115JB...Urgent Sir!!!
This query is : Resolved
02 September 2010
Dear Experts,
While calculating book profit for the purpose of 115JB if Deferred Tax is credited to P&L account should we have to deduct it while calculating Book Profit for the purpose of 115JB.
With regards,
Rajesh.
While calculating book profit for the purpose of 115JB if Deferred Tax is credited to P&L account should we have to deduct it while calculating Book Profit for the purpose of 115JB.
With regards,
Rajesh.
02 September 2010
Necessarily deferrred tax asset credited in profit and loss account has to be deducted. This provision is inserted by the Finance Act,2008 w.e.f asst.year 2001-02 and onwards.
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