CA Payal (ca) (162 Points)
06 April 2012frnd i hv a query related to defered tax asset???
if a company has incurred loss in 2011 and has no VCCE as per para 17 that it willnot have sufficient income in 2012 but d co. has VCCE that it will have sufficient income in 2013, whether d company sud create DTA in 2011 or not????????????
pls answer...............thnx in aadv......
Rahul Sharma
(Practicing Chartered Accountant)
(131 Points)
Replied 06 April 2012
Deffered tax asset should be created even if the company has hopes of earning profit after 5 or 10 years...
CA Rakesh Goenka
(CA & CS)
(872 Points)
Replied 06 April 2012
yes DTA should be created,,,,, but if there is virual certainty that comany can have sufficient future taxable income ok..........
CAclubindia
