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Answer to question 2 in taxation seems correct how come nil tax in 3rd yr
even after making net income 1 crore.
Carry Forward Loses
Dec 03 2013 09:26 PM
This is due to the concept of carry forward loses.
Even though net income is 1 crore, due to accumulation of previous years loses they get a tax benefit and hence no income tax is payable.
Dec 04 2013 08:02 PM
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In this question Taxes and Interest has been ignored??
tax expense and tax payable of a company
If a company incurs $10 (pretax) of depreciation expense, how does that affect the three financial statements?assume a tax rate of 40%
Advanced Income Statement
what is tax deducted at source?????
and can we reclaimed it at the time of filing our income tax???
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