Question

Under the Income-tax Act, Deferred Tax Asset is recognized when:

Q: Answer-Under the Income-tax Act, Deferred Tax Asset is recognized when:

Deferred Tax Asset arises when future taxable income will be lower because the company can claim deductions later. Examples provision for doubtful debts, unabsorbed losses subject to conditions. Permanent differences no DTA

A There is a permanent difference

B Taxable income is higher than accounting income

C Deductible temporary differences exist

D Advance tax is paid in excess

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Under the Income-tax Act, Deferred Tax Asset is recognized when:

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