Deferred tax

gaurav rana (student) (46 Points)

24 February 2017  

Hiii All,

Query: if Company is having loss in current year as per Companies Act as well as Income Tax, and there is Virtual certaininty that in future can set off loss with income.

Kindly tell deferred tax Liability will be created on Difference of loss of Companies Act with Income Tax or only on Loss under Income Tax.

Thanks to all