As-22

Rahul (202 Points)

10 May 2007  
Hello friends this is rahul help needed
y query realtes to AS-22 on Accounting for taxes

If a co. incurr a loss and in the same year a deferred tax asset(DTA) is created and by virtue of DTA company comes in profit. Now the question is can company declare dividends out of this profit.
Hoping fora quick response