Deferred tax

AS 251 views 1 replies

Opening Deferred tax Liability: 1,99,053

Current year loss as per Co Act: 13320000

Current year loss as per IT Act: 13800000

Current Year DTL (difference in carrying amount of Asset*tax rate) is 580000

Whether to recognise DTA for the loss in assumption of future taxable profits?

 

 

Replies (1)

Deferred Tax Asset shall be created on the amount of loss as per income tax and it will be adjusted against opening Deferred Tax Liability. Net figure shall be reported. 


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