Profit or loss pre and post incorporation

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23 Points Posted on 09 April 2017

What would be the treatment of Provision for tax while calculating profit or loss pre and post incorporation.

Will it be deducted from gross profit or not be deducted at all and if so, why?

 

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On 09 April 2017 at 12:50 Report
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CA IPCC
229 Points Posted on 09 April 2017
Provision of tax being a current liability during post Incoporation period is shown as a deduction from CY Profits
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On 09 April 2017 at 15:50
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23 Points Posted on 04 May 2017
Thanks. Got it now.
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On 04 May 2017 at 22:32

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