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Querist : Anonymous

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Querist : Anonymous (Querist)
23 April 2013 Can one reverse the Opening DTL if the current year loss as per accounts is -2400000 and loss as per income tax is -2600000.Also is reversal of DTL tantamount to creationnof DTA.

Thank you but if the company not doing any business then is it prudent to create DTA?
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CA RICHA BADALIA

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CA RICHA BADALIA (Expert)
23 April 2013 Yes you have to create DTA on carry forward loss as per IT, provided conditions as per AS-22 are fulfilled.
Yes reversal of DTL tantamount to creation of DTA.
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