Deferred Tax Assets / Liabilities

This query is : Resolved 

23 April 2008 Hi All,

What is deferred tax Assets/Liabilities. And what is Meaning of "Time Difference" word used at the time of calculating Deferred Tax. ????

24 April 2008 Timing difference is the difference in taxable income and business income which originates in one year and reverts back in subsequent year.

Only for timing diff, DTA and DTL is to be accounted for



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