Creation of deffered tax asset & deffered tax liability.
This query is : Resolved
14 November 2013
Deffered tax asset & liability are created for future.So whether Deffered tax asset and liability created at future tax rate or current year tax rate??
14 November 2013
These are created as per current year tax rate
14 November 2013
Sweta, one more thing. How will you estimate/predict future tax rates???
15 November 2013
In C.A. Examination in sum they have given future tax rate also so at that time deffered tax asset and liability created at future tax rate??.In practical I can understand that future tax rate can not be estimated realiably
15 November 2013
oh the mind games. ICAI got nothing else to do. Anyways, as Parul suggested, use the current year's tax rates and study well.
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