DEFERRED TAX
This query is : Resolved
26 August 2009
Sir,
i want to know if dta on losses for previous year is not done.. than in current year what to do....
i want to know if dta on losses for previous year is not done.. than in current year what to do....
27 August 2009
Hello,
First of all if in the previous yr, DTA on losses is not done, Auditor hv to qualify the report regarding the same for that yr.
Now as far as current yr is concern, after setting of losses against current yr income, if u hv still pr.yr.loss, u hv to simply make provision for differed tax, and for ur safer side u can put note in ur report that pr.yr., DTA on losses was not calculated and to that extent opening figures are affected.
First of all if in the previous yr, DTA on losses is not done, Auditor hv to qualify the report regarding the same for that yr.
Now as far as current yr is concern, after setting of losses against current yr income, if u hv still pr.yr.loss, u hv to simply make provision for differed tax, and for ur safer side u can put note in ur report that pr.yr., DTA on losses was not calculated and to that extent opening figures are affected.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
