15 April 2010
we(transferee)are merging a company which having brought forward losses and was claiming deferred asset. can we calim deferred tax and if we can, pl.help me how to calculate deferred tax?
Calculation of deferred tax on brought forward losses depends on the expectation of future profits if you think that you can earn profit enough to set off profits then yes you can creat def tax on the brought forward losses. If merged coompany have profits the carry forward losse of the merging company can be set off therefore you can creat claim deferred tax .
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