AS 22 and carried forward of loss
This query is : Resolved
19 October 2009
can u give me any article or case law on the following issue
our company having lot of units of which two are eligible for 80IB
we are claiming the 80IB deduction
in over all because of difference between income tax and companies act depreciation we are having carried forward of loss to set off against future income
my query is whether we are eligible to claim the unabsorbed depreciation loss as per AS 22
our company having lot of units of which two are eligible for 80IB
we are claiming the 80IB deduction
in over all because of difference between income tax and companies act depreciation we are having carried forward of loss to set off against future income
my query is whether we are eligible to claim the unabsorbed depreciation loss as per AS 22
Aditya Maheshwari
(Expert)
20 October 2009
I think if unabsorbed deprecaition claim allowable u/s 32 then u can make deferred tax asset as per AS - 22
As per you case if loss is allowable then deferred tax asset as per AS - 22 allowed.
As per you case if loss is allowable then deferred tax asset as per AS - 22 allowed.
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