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Deferred tax asset

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24 January 2011 Hi,

A Company has suffered losses for the first time and has recognised deferred tax asset. Does it still have to establish virtual certanity to prove that it will make profits in future?

24 January 2011 Yes compnay has to establish virtual certanity of prifit in the future years, so that compnay may setoff the losses with taxable profit.

24 January 2011 Agree with CA Shailesh




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