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Deferred tax

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(Querist)
07 February 2016 Hello, is deferred tax affected by the carry forward loss?Under income tax act, carry forward loss will be deducted from income and tax savings will be created. Deferred tax liability will be created and how it can be reversed sir ?? Please, reply
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CA CMA CS Ram Pavan Kumar Melam

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CA CMA CS Ram Pavan Kumar Melam (Expert)
07 February 2016 As per para 17 of AS22, Where an enterprise has unabsorbed depreciation or carry forward of losses under tax laws, deferred tax assets should be recognised only to the extent that there is virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which such deferred tax assets can be realised.

The reversal of DTA will be from earnings of future taxable profits.
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arun

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arun (Querist)
08 February 2016 Thanks sir
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arun

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arun (Querist)
08 February 2016 Thanks sir
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arun

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arun (Querist)
08 February 2016 Thanks sir
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arun

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arun (Querist)
08 February 2016 Thanks sir
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CA CMA CS Ram Pavan Kumar Melam

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CA CMA CS Ram Pavan Kumar Melam (Expert)
08 February 2016 If you like the reply please score me by thanking ('Thank user' option).
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