In the case of loss
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 December 2016
whether in the case of loss provision for taxation is created or not.
06 December 2016
If you have business loss, you need to check MAT and Book Profit and if you have Book Profit , MAT is Payable , need to create provision of tax. and if your book profit and taxable profit both are negative.. you need not to create provision on taxation from accounts prospective.
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