Loss treatment
This query is : Resolved
12 September 2014
I want to know that a company loss Rs.3043483 in the year ending 2010 balance sheet. But in 2011 the company is in profit but can I take the loss as opening balance of Reserved and surplus in the balance sheet of 2011 or not.
12 September 2014
Yes you can set off the loss with current year profit and DTL shall be created accordingly.
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