deffered tax

This query is : Resolved

dileep (Querist)
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14 September 2009 what is the entry foe deffered tax in books of accounts.
pls give both i.e deffered tax asset ,deffered tax liability.given it jounalised entry way

urgent

CA CS CIMA Prakash Somani

CA CS CIMA Prakash Somani (Expert)
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14 September 2009 DTA Dr
P&L Cr

P&L Dr
DTL Cr

Aditya Maheshwari

Aditya Maheshwari (Expert)
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14 September 2009 Entry

For deferred tax liability

Deferred Tax Expenses A/c Dr
to Deferred Tax Liability A/c

For deferred tax asset
Deferred Tax Asset A/c Dr
to Deferred Tax Expenses A/c

Then trf deferred tax asset to p& l a/c

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CA CS CIMA Prakash Somani

CA CS CIMA Prakash Somani (Expert)
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14 September 2009 Oppsss. i took a shortcut