Debit balance of deferred tax liability

CA Karan Lodhi (CA and B.com(hons.)) (879 Points)

01 April 2013  

Dear All,

 

Please help me out with the following situation :

 

Deferred tax liability ledger has been created under the head provisons in accounting system.Now debit balance of this ledger is appearing and i am closing the books of this financial year.I will calculate the deferred tax liability/asset accordingly.Now my question is WHAT TO DO WITH DEBIT BALANCE OF THIS LEDGER WHILE SUMMARISING THE BOOKS OF THIS YEAR.?