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Calculation of net worth

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(Querist)
09 April 2013 R/Sir,
Is advance tax is taken into consideration while calculating Net Worth of a company?Plz reply asap.
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CA RICHA BADALIA

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CA RICHA BADALIA (Expert)
09 April 2013 Following Asset approach you have to take into account Advance Tax in Net worth calculation
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CA Prashant Shrivastava

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CA Prashant Shrivastava (Expert)
09 April 2013 yes as explained by expert. However, provision for income tax will be reduced from net worth calculation and ultimate effect will be nil.
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