Provision for tax and deffered tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 January 2013
dear sir,
please clarify the following
can we show deffered tax(asset/liability) and provision for tax together in the balance sheet,and pls clarify me
how prov for tax and DTA/DTL will be adjusted at the year end to show in the balance sheet
please clarify the following
can we show deffered tax(asset/liability) and provision for tax together in the balance sheet,and pls clarify me
how prov for tax and DTA/DTL will be adjusted at the year end to show in the balance sheet
07 January 2013
they are always shown separately....no need of adjustment...at each balance sheet date we assess the DTL/DTA and it is automatically adjusted for actual payment of tax...(less liability or more liability than provided for and automatically gets closed)
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 January 2013
thank you so much for the reply,
but please provide me the necessary journal entries,how they operate.
but please provide me the necessary journal entries,how they operate.
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