What is Tax reversal?
This query is : Resolved
11 July 2008
Infosys today declared its Q1 results.
It says its EPS is 100(approx) Ex- Tax reversal.
Please let me know what is Tax reversal.
Note that infosys' profits for the period Q1 is more than its guidance.
It says its EPS is 100(approx) Ex- Tax reversal.
Please let me know what is Tax reversal.
Note that infosys' profits for the period Q1 is more than its guidance.
11 July 2008
Provision for Taxatio is created every year on the basis of income earned for the year and tax payble thereon. The liability is booked at the time of finalisation of Balance Sheet which may differ from the actual liabilty ascertained by preparing the Computation of Income and Return. The difference of the two figures is reversed in the next years which may be called as the Tax Reversal
12 July 2008
Yes. I do agree with Mr Ahuja
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