A company while finalising accounts for FY 2015-16, made loss of Rs. 10 Lakhs which can be carried forward to next year under Tax law also. Assuming that the Company will have taxable income in future, is the company required to create DTA in FY 2015-16 ? Or in FY 2016-17?
Please suggest.
In my view it is created in FY 2015-16 only.
Can we say that the companycannot pay tax on loss, so not required to create DTA?
CAclubindia
