24 August 2013
PVT LTD COMPANY HAVING OPENING BALACNE IN PROFIT & LOSS A/C ON 1.04.2011 1500000 IN CREDIT & DURING THE YEAR F.Y 11-12 COMPANY MADE LOSS OF RS.1800000 AFTER DEPRECTION OF RS.1400000 SO COMPANY PAID MADE MAT AS PER INCOME Tax & LOSS OF 1800000 WAS C/F IN RETURN,IN BOOKS COMPANY SHOWED PFOFIT & LOSS CLOSING BALACE ON 31.3.2012 300000 DEBIT BALANCE NOW IN F.Y YEAR 12-13 COMPANY MADE PROFIT OF 1000000 WHICH WAS SET OFF AGANIST LAST YEAR B/F LOSS BUT IN MAT CAN I SET OFF LOSS OF 400000 AS 400000 LOSS {1800000-1400000(DEPRECIATION OF LAST YEAR) IS LOWER AS COMPARED TO DEPRECTION 1400000. OR COMPANY CAN NOT SET OFF FULL 400000 AS 300000 WAS SETOFF AGANIST OPENING BALANCE...
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