115jb brought forward of loss
This query is : Resolved
04 July 2015
Dear Sir,
While computing brought forward loss to be set off while doing MAT computation, can also take deferred tax loss incured by the company in previous years.That is whether deferred tax loss is form part of Business loss to carry forward under MAT
While computing brought forward loss to be set off while doing MAT computation, can also take deferred tax loss incured by the company in previous years.That is whether deferred tax loss is form part of Business loss to carry forward under MAT
04 July 2015
dear Income tax act does not recognise deferred tax.
So, it means deferred tax loss is not a part of business loss.
Also Dferred tax is the concept given by Accounting standaerd and not by income tax act.
So, it means deferred tax loss is not a part of business loss.
Also Dferred tax is the concept given by Accounting standaerd and not by income tax act.
Message likes :
1 times
04 July 2015
deffered tax loss /assets is not come under the income tax act. its provide by the AS- taxes on income.
its not come under the income tax act.
its not come under the income tax act.
Message likes :
1 times
06 July 2015
But Sir, As per 115JB carried forward of loss is computed under provisions of Parts II and III of of Schedule VI . So it includes deferred tax loss. Also explanation given to book loss no where said deferred tax to be removed from business loss. Explanation to business loss only says to remove depreciation.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- RCM INVOICING FROM NOV-2024
- Confusion around Form 26QB fields
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- TDS under section and rate of TDS
- GST input on scooter purchased
- TDS under section 194Q and TCS under section 206C
- GST input on car insurance and repairs
- GST input on Diwali gift to employee
- GST input on Mobile Handset
- Material and freight in same invoice
- TDS under section 194J inclusive of reimbursement of expenses
- TDS on Material and Labour in same invoice
- Should I be worried about and rectify reporting Jan,Feb ,March 2024 foreign salary in schedule FA?
Trending Online Classes
CAclubindia
