Deferred Tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 April 2011
A company had created Provision for Bad Debts which were not allowed as deduction under Income tax Act, subsequently company created deferred tax assets on the amount disallowed.
Whether company can claim deduction under section 36(1)(vii, if Bad Debts are written off against the Provision earlier made?
Whether the Deferred Tax Assets created earlier will be reversed or not?
Whether company can claim deduction under section 36(1)(vii, if Bad Debts are written off against the Provision earlier made?
Whether the Deferred Tax Assets created earlier will be reversed or not?
06 April 2011
yes, will be allowed as a deduction in the year in which bad debts have been written off
DTA would be reversed
DTA would be reversed
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
- CLOSING STOCK QUERY
- Exiting partner in partnership firm in gst portal
- IT returns for fresh job holders
- F&O reporting in ITR
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Loss of interest in PF transfer from EPFO to Trust
- Short Term Gain Reporting ITR
- Gst on travel by air for business purposes
- Taxability of credit in canara bank ET & T section (NRO)
- ITR-3 File/Error Found
- DUE DATE FOR ITR FILING
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
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
