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Defferred tax laibility

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18 August 2012 what is deferred tax liability and is it mandatory to show in balance sheet
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CA Guru M

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CA Guru M (Expert)
18 August 2012 Deferred tax liability arise due the difference between profit as per books of accounts & profit as income tax.

Main difference is due to depreciation.
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CA Guru M

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CA Guru M (Expert)
18 August 2012 Its mandatory to shown deferred tax liability or assest as separate line of item as per Schedule VI
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CA Guru M

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CA Guru M (Expert)
18 August 2012 For detailed understanding of the concept, you can go through AS 22.
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CA CS Amit S. Kedia

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CA CS Amit S. Kedia (Expert)
18 August 2012 Deferred tax liablility/asset is created and shown in the balance sheet only if there is reasonable certainty that it will get reversed in the future years.

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