Defferd Tax Liabilty
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 August 2010
In Case of Loss arising in a Company what shall be the treatment of deferred Tax liability and in previous year the balance of deffered tax liabilty exists...
I cannot make out from AS 22 . Refer the text as well.
Thank u
I cannot make out from AS 22 . Refer the text as well.
Thank u
12 August 2010
If company is virtually certain that sufficient taxable income will emerge in the coming years, create deferred tax asset for the loss. This may be set off against previous year's DTL and the balance may be carried to B/S.
Book, among others, Accounting standards by Prime academy. Web site : - www.primeacademy.com
Book, among others, Accounting standards by Prime academy. Web site : - www.primeacademy.com
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