Deferred tax asset

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86 Points Joined March 2017
I have started a new company which is in loss and I have written off the preliminary expenses as per income tax act .Should I create a deferred tax asset even if there is loss? I have to file my return for fy 2017-18 till March 31st
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On 29 March 2019 at 11:51 Report
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Practicing Chartered Accountant
2481 Points Joined June 2013

If there is timing differences then you will have to create Deffered Tax even though you have loss returns

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On 29 March 2019 at 11:53
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86 Points Joined March 2017
there are no transactions except preliminary expenses which amounts to 35000
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On 29 March 2019 at 12:41
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Practicing Chartered Accountant
2481 Points Joined June 2013
Yes, create DTA
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On 29 March 2019 at 12:48


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