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AS 22

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 December 2009 can any one let me know, when there is brought forward of loss or unabsorbed depreciation, we create a DTA after considering virtual certainty?

can any one explain me why DTA is created in this situation? let us ignore the virtual certainty criteria for this moment.
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
28 December 2009 B/F Losses is an item of Timing Difference which will be set off against my future income and thus the liability on account of tax will be reduced to some extent which as on date is the intrinsic value of such loss. Hence, a DTA should be created to that extent.
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