27 January 2009
AS PER MY OPINION: SINCE THE TAX IS NOT PAYABLE IN THE FUTURE THEREFORE REVERSE THE PROVISION MADE FOR THE DEFERRED TAX. I.E. DEBIT THE DEFERRED TAX LIABILITY ACCOUNT AND CREDIT THE PROFIT AND LOSS ACCOUNT. NOTE: I HAVE NO LEGAL BASE FOR THIS IT IS STRICTLY AS PER MY PERCEPTION.
CAclubindia
