FIRST HAPPY DIWALI TO ALL CCI MEMBERS......................................
DEFEERED MEANS:-
TRANSACTIONS WHICH ARE RELATED TO FUTURE .
DEFEERED TAX:- DEFEERED TAX HAS TWO TYPES
(a) DEFEERED TAX ASSETS
(b) DEFFERED TAX LIABILITIES
DEFEERED TAX ASSETS
THE ITEMS WHICH WE HAVE CLAIMED DEDUCTION IN PROFIT & LOSS ACCOUNT ARE DISALLOWED UNDER TIMING DIFFERENCE OR PERMANENT DIFFERENCE & ADD BACK IN PROFIT,IF THERE IS TIMING DIFFERENCE , IT WILL BECOME TAXABLE INCOME OF ENTITY & THE ENTITY WILL HAVE TO PAY MORE TAX ON DIALLOWED ITEM. THE ADDITIONAL TAX WHICH WE HAVE TO PAY BECOME DEFFERED TAX ASSETS
DISCLOUSRE:-
PROFIT & LOSS A/C
PBT :- ..............
LESS TAX EXPENSES
CURRENT TAX:- ........
DEFEERED TAX:-(.....) :- .................
PAT :- ............
BALANCE SHEET:-
SHOWN IN ASSETS SIDE UNDER HEAD' NON CURRENT ASSETS'
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