Tax payment by co.
This query is : Resolved
16 August 2013
i have deducted preliminary exp. from reserves in balance sheet.reserves are already negative. the co. has to pay tax but on which amount? profit as per new format of P/l in which preliminary exp. are not deducted or on the baiance amount of profit as per p/l minus preliminary exp. plz reply ASAP.
17 August 2013
You query is not clear. There are separate laws for computation of income.
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