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

CA Amit Talada

CA Amit Talada (Expert)
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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.

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