23 April 2013
Can one reverse the Opening DTL if the current year loss as per accounts is -2400000 and loss as per income tax is -2600000.Also is reversal of DTL tantamount to creationnof DTA.
Thank you but if the company not doing any business then is it prudent to create DTA?
23 April 2013
Yes you have to create DTA on carry forward loss as per IT, provided conditions as per AS-22 are fulfilled. Yes reversal of DTL tantamount to creation of DTA.
CAclubindia
