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deferred tax calculation

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Querist : Anonymous (Querist)
24 September 2010 provision for payment of bonus disallowed earlier year and was paid the following year is it liable for deduction in calculation of deferred tax the subsequent year
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CA Suraj Lakhotia

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CA Suraj Lakhotia (Expert)
24 September 2010 You would have created a Defered Tax Asset for the year in which the provision was made. In the subsequent year when the payment is made to the employees, the defered Tax Asset recognised earlier is no longer existent and needs to be reversed.
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