Impairment loss
This query is : Resolved
21 May 2013
Dear Friends and Respected member(CACLUBIINDIA.com)
Please suggest me whether Impairment Loss is a timing Difference?.Please present convincing reason for your views.
Thanking you
Ajay Panchariya
Please suggest me whether Impairment Loss is a timing Difference?.Please present convincing reason for your views.
Thanking you
Ajay Panchariya
22 May 2013
Under AS
If the loss is not allowable by taxation authorities in the same year, then it is a timing difference since the same will be allowed later when asset will be sold.
Under IFRS
If the Tax Base is different from Accounts Base, it is a timing difference.
It will create DTA in both scenarios.
If the loss is not allowable by taxation authorities in the same year, then it is a timing difference since the same will be allowed later when asset will be sold.
Under IFRS
If the Tax Base is different from Accounts Base, it is a timing difference.
It will create DTA in both scenarios.
22 May 2013
Under AS
If the loss is not allowable by taxation authorities in the same year, then it is a timing difference since the same will be allowed later when asset will be sold.
Under IFRS
If the Tax Base is different from Accounts Base, it is a timing difference.
It will create DTA in both scenarios.
If the loss is not allowable by taxation authorities in the same year, then it is a timing difference since the same will be allowed later when asset will be sold.
Under IFRS
If the Tax Base is different from Accounts Base, it is a timing difference.
It will create DTA in both scenarios.
23 May 2013
Thanking You Very much sir.
09 July 2013
Yes I agree with the expert
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