115jb brought forward of loss
This query is : Resolved
04 July 2015
Dear Sir,
While computing brought forward loss to be set off while doing MAT computation, can also take deferred tax loss incured by the company in previous years.That is whether deferred tax loss is form part of Business loss to carry forward under MAT
While computing brought forward loss to be set off while doing MAT computation, can also take deferred tax loss incured by the company in previous years.That is whether deferred tax loss is form part of Business loss to carry forward under MAT
04 July 2015
dear Income tax act does not recognise deferred tax.
So, it means deferred tax loss is not a part of business loss.
Also Dferred tax is the concept given by Accounting standaerd and not by income tax act.
So, it means deferred tax loss is not a part of business loss.
Also Dferred tax is the concept given by Accounting standaerd and not by income tax act.
Message likes :
1 times
04 July 2015
deffered tax loss /assets is not come under the income tax act. its provide by the AS- taxes on income.
its not come under the income tax act.
its not come under the income tax act.
Message likes :
1 times
06 July 2015
But Sir, As per 115JB carried forward of loss is computed under provisions of Parts II and III of of Schedule VI . So it includes deferred tax loss. Also explanation given to book loss no where said deferred tax to be removed from business loss. Explanation to business loss only says to remove depreciation.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Off Market debit and credit transaction
- Itr 1 processing
- Reporting Income under Section 44ADA
- Showing Gift from relative in ITR for this year
- ITR 1: Details for showing Exempt Income
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR returnFY25-26
- ITR selection for salaries and capital gain less than L
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- ITR 2 Short Term gain & Long term gain
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
