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deferred tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 June 2010 hi
whether deferred tax is a allowable expenditure for calculating the taxable income
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CA Ravi Kumar Murugesh

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CA Ravi Kumar Murugesh (Expert)
07 June 2010 Not at all its an allowable expenditure for tax purpose.
It is an adjustment of future taxes as per accounting standards and it is not any way related to Tax purpose.
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Querist : Anonymous

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Querist : Anonymous (Querist)
07 June 2010 thanks sir
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
07 June 2010 AGREED, IT IS PROVISION FOR FUTURE TAX OUT OF RESERVES. IT IS NOT EXPENSE ITEM.

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