In first year of Financial year, where WDV of fixed assets under income tax act exceeds the wdv of fixed assets under companies act or taxable income is morethan accounting income then is there any need to disclose the deferred tax asset on the face of the financial statements according to the concept of conservatism or not?
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Doubt on application of deferred taxation
Replies (1)
Yes it shud be disclosed in the Notes to Accounts.
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