Book profits
Querist : Anonymous
the Entry is :
Deferred tax Asset A/c Dr Rs. 20,000
To P & L A/c 20,000
The Company has incurred loss in that year say Rs. 1,20,000.
Now , my question is that while calculating the book profits , Do we need to deduct this or not ?
Means Total Book Loss is Rs. 140000 or Rs. 120000
Querist : Anonymous
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