08 April 2010
Deferred tax is an accounting concept meaning a future tax liability or asset, resulting from temporary differences or timing differences between the accounting value of assets and liabilities and their value for tax purposes.
Also go thru the PPT..it will explain u a lot.. www.caalley.com/ca/AS-22%20on%20Deferred%20Taxation.ppt
Read about Deferred tax at the following Link...... http://en.wikipedia.org/wiki/Deferred_tax
CAclubindia
