Provision for deferred tax
This query is : Resolved
CA PAWAN SETHI
(Querist)
05 November 2008
Is it mandatory to made provision for deferred tax liability/ Assets?
A company had not made provision of deferred tax from last 4 years.
my question is whether provision for current year to be made or to leave it as it had not been made in last years.
A company had not made provision of deferred tax from last 4 years.
my question is whether provision for current year to be made or to leave it as it had not been made in last years.
S.Srinivasaraghavan
(Expert)
05 November 2008
It is mandatory and the defect has to be corrected.
CA PAWAN SETHI
(Querist)
05 November 2008
how to sort out this defect
is it to show prior period adjustment
is it to show prior period adjustment
S.Srinivasaraghavan
(Expert)
06 November 2008
Sow the deferred tax upto the previous year in one line and for the current year in another line. Explain the accumulated figure by way of note.
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