differred tax accounting
This query is : Resolved
18 June 2008
I want to know all about differred tax,
from a to z and how it is calculated, and entries to be made in books
from a to z and how it is calculated, and entries to be made in books
18 June 2008
You may refer AS22 (A/c for Taxes on Income). If you have Differed Asset, the following entry will ne passed.
Def. Asst. Dr.
To Profit & Loss A/c
If there is Def. Liability
P & L Dr.
To Def. Liab. A/c
Thanks & Regards
Chintan
Def. Asst. Dr.
To Profit & Loss A/c
If there is Def. Liability
P & L Dr.
To Def. Liab. A/c
Thanks & Regards
Chintan
23 August 2008
it is calculated on timing difference b/w taxation income & accounting income.
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