18 October 2008
Dear sir/madam, I am the student of ca final and an article. i've made many deferred tax calculations of many co's & disclosed as required by AS-22. But m bit confused. Kindly let me know what is the ultimate aim of deferred tax calculations..?? Is there any tax payable in future in case of d.t.liab, or simply an adjustment..??
18 October 2008
This is only a notional adjustment of an accelerated or retarded tax benefit being present in the respective year so that the shareholder is aware of the true net worth.
CAclubindia
