Impairment loss
This query is : Resolved
CA. AJAY PANCHARIA
(Querist)
21 May 2013
Dear Friends and Respected member(CACLUBIINDIA.com)
Please suggest me whether Impairment Loss is a timing Difference?.Please present convincing reason for your views.
Thanking you
Ajay Panchariya
Please suggest me whether Impairment Loss is a timing Difference?.Please present convincing reason for your views.
Thanking you
Ajay Panchariya
CA Sourabh Agarwal
(Expert)
22 May 2013
Under AS
If the loss is not allowable by taxation authorities in the same year, then it is a timing difference since the same will be allowed later when asset will be sold.
Under IFRS
If the Tax Base is different from Accounts Base, it is a timing difference.
It will create DTA in both scenarios.
If the loss is not allowable by taxation authorities in the same year, then it is a timing difference since the same will be allowed later when asset will be sold.
Under IFRS
If the Tax Base is different from Accounts Base, it is a timing difference.
It will create DTA in both scenarios.
CA Sourabh Agarwal
(Expert)
22 May 2013
Under AS
If the loss is not allowable by taxation authorities in the same year, then it is a timing difference since the same will be allowed later when asset will be sold.
Under IFRS
If the Tax Base is different from Accounts Base, it is a timing difference.
It will create DTA in both scenarios.
If the loss is not allowable by taxation authorities in the same year, then it is a timing difference since the same will be allowed later when asset will be sold.
Under IFRS
If the Tax Base is different from Accounts Base, it is a timing difference.
It will create DTA in both scenarios.
CA. AJAY PANCHARIA
(Querist)
23 May 2013
Thanking You Very much sir.
09 July 2013
Yes I agree with the expert
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
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Employee secondment
- Ito add credit side of bank
- GSTR9 Annual Return
- Applicability of tax on invoice
- Import of Capital Machine
- LLP audit and disclosure
- Capital gain on commercial property and investment in residential property
- Rectification under processing even after 6 months cpc portal
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
