Question

L Ltd. presents interim
financial report (IFR)
quarterly, earns Rs. 7,05,000
pre-tax profit in the first
quarter ending 30.06.2019
but expect to incur losses of
Rs. 2,35,000 in each of the
three remaining quarters,
which will result zero
income during the financial
year 2019-20. Effective
income-tax rate is expected
to be 30%. What is the
income-tax expense to be
reported for financial year
2019-20 as per AS-25,
​

Answer 1

Answer:

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