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Defered tax asset
If there is any Dta on asset shown in B/s bt but there is not asset..
Den what should be the treatment of DTA in Financial statement..?
Replies (6)
A Reversal entry should be made as follows:
P&L A/c Dr
To DTA a/c
Thank u..
Is it prior period item ..?
No, it is not a prior period item.
In which head in St. of P&L ?
This is extract of P&L statement; in Tax Expense column we can have DTL as follows:
| X | Tax Expense: | |
| (1) Current Tax | ||
| (2) Deferred Tax | ||
Thank you sir for solving my problem.
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