Provision for tax
This query is : Resolved
23 December 2013
What is the difference between
provision for tax and deferred tax?
Is there any provision to setoff provision for tax against deferred tax
24 December 2013
provision for tax is for the tax payable for the current period whereas deferred tax is an accounting entry for reflecting difference in taxable income and income as per accounts due timing difference or permanent differencqe arising due due to difference in tax laws and accounting laws.
I fail to understand the set off query!!
I fail to understand the set off query!!
24 December 2013
there is no question of set off as both are different.
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