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Loss treatment

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(Querist)
12 September 2014 I want to know that a company loss Rs.3043483 in the year ending 2010 balance sheet. But in 2011 the company is in profit but can I take the loss as opening balance of Reserved and surplus in the balance sheet of 2011 or not.
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CA VISHWAKEERTHI.P.S.

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CA VISHWAKEERTHI.P.S. (Expert)
12 September 2014 Yes you can set off the loss with current year profit and DTL shall be created accordingly.
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