Deferred tax liability/assets
This query is : Resolved
22 December 2011
What is deferred tax liability/Assets?
What is the procedure to calculate it ?
What is the procedure to calculate it ?
23 December 2011
Dear Mr. Anil,
You need to check AS-22 for same,
However for a layman,
DTA/DTL are your assets or liabilities of Income Tax you have saved or have to pay in near future, because of different accounting policy as per you and Income Tax Act.
It can be estimated by multipling the applicable tax rate of your Profit as per PL with you accounting policies followed, and Net Taxable Income as per Income Tax Act.
This is created on Timing Difference which have arised due to different policies followed.
For further please go through AS - 22, or ask a specific Question with Facts.
--
Regards,
Garg Garg & Associates
Raghav Garg | Partner | Chartered Accountants
Kothi No. 35, Sector 7, Urban Estate,
Kurukshetra, Haryana 136118
Mobile: +91 981 222 0035
Email: ca.raghavgarg@gmail.com
Thank you for considering the environmental impact of printing emails
You need to check AS-22 for same,
However for a layman,
DTA/DTL are your assets or liabilities of Income Tax you have saved or have to pay in near future, because of different accounting policy as per you and Income Tax Act.
It can be estimated by multipling the applicable tax rate of your Profit as per PL with you accounting policies followed, and Net Taxable Income as per Income Tax Act.
This is created on Timing Difference which have arised due to different policies followed.
For further please go through AS - 22, or ask a specific Question with Facts.
--
Regards,
Garg Garg & Associates
Raghav Garg | Partner | Chartered Accountants
Kothi No. 35, Sector 7, Urban Estate,
Kurukshetra, Haryana 136118
Mobile: +91 981 222 0035
Email: ca.raghavgarg@gmail.com
Thank you for considering the environmental impact of printing emails
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
