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Please do all calculations with all steps Q) Company XYZ in previous three years (2016,17,18) has lost $1,000,000 in each year. From 2019 and 2020
Please do all calculations with all steps
Q) Company XYZ in previous three years (2016,17,18) has lost $1,000,000 in each year. From 2019 and 2020 it is making $ 1,500,000 per year. Please show how this situation can be compensated in these two years.
- Show this working in table format
- How much Tax saving will be enjoyed for this company due to carryforward, Tax Bracket is 40%.
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