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Accounting for taxes on income

Accountancy

Accounting income is considered as NIL?? And How it will regarded it as deferred assets?

Laxmi Devi Suresh

CA Inter

★ 16K+

31-Mar-24 12:25

189

Answers (1)

Sale value = 8 crores Cost = 8 crores Accounting income is 0. Taxable income is 4 crores. Paid taxes in the current year and low taxes in future. Hence DTA.

CA Suraj Lakhotia

Admin

01-Apr-24 04:55