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since there is nothing mentioned about carry forward of losses, how you assume the no of years it will, different business has different carry forward time, so i am not agree with answer with assumpti
If a Company's net income in year 1 is Rs. -2 Crores (-20 million), year 2 is Rs. -1 crores(-10 million), year 3 is Rs. 1 crore (10 million). What is the tax payable in year 1, 2 and 3 at a 30% tax rate?
Jul 22 2013 12:17 AM
For the purpose of this question we have assumed that the loses are carry forward for the period of the 3 years. So in this case you dont pay any tax for the first 3 years.
Jul 25 2013 11:51 AM
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