Deferred tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 August 2013 Dear All,

Please help- whether DTA/DTL to be provided if the firm has stopped its operations in January and gets dissolved in current financial year?
And what will be the effect if it gets dissolved in the April i.e in the starting period of next financial year?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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08 August 2013 DTA/DTL will NOT be provided if the firm gets dissolved as the basic requirement of creating DTA/DTL is that the timing difference will be reversed in the succeeding years.

If the firms gets dissolved in April, and there is sufficient information available as on 31st March that the firm will get dissolved in April then also DTA/DTL will not be created.

Querist : Anonymous

Querist : Anonymous (Querist)

08 August 2013 Thank You sir

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CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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08 August 2013 You are welcome. You should use the thanks button to convey your thanks.

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