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Deffered tax

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(Querist)
26 October 2007 I have business loss..can i calculate defeerred tax ?;
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CA. Dashrath Maheshwari

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CA. Dashrath Maheshwari (Expert)
26 October 2007 yes
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KAAPIL

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KAAPIL (Expert)
01 November 2007 AS 22 states very clearly that if you are virtually certain you may calculate DTA.
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KAAPIL

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KAAPIL (Expert)
07 November 2007 I hope this clarifies. Happy Diwali.
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Ravikumar.G

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Ravikumar.G (Expert)
09 November 2007 You can calculate and show in the notes. Based on prudence policy you can avoid accounting in the books. Otherwise subsequent year when you will set off the loss you can create DTL.

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