Treatment of carried forwards for losses
This query is : Resolved
Manoj Jindal
(Querist)
22 March 2013
heloo friends....
i want to know that
what is the accounting treatment in books for the losses which in not carry forward for next year...
i want to know that
what is the accounting treatment in books for the losses which in not carry forward for next year...
CMA Ramesh Krishnan
(Expert)
22 March 2013
Loss carry forward and set off totally based on your Income tax treatment, will not affect your books of accounts. only your tax calculation will change based on your loss and that will be recorded your books, however your loss under the books remains same unless you recover with profit
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