What is Deffard Tax Asset and Deffard Tax Laibility,
why it is necessary to make such provisions in balancesheet.
Aarush
(Delhi)
(1566 Points)
Replied 20 June 2012
Defered tax Liability is a provision on Future Taxation.
Also we can say defered tax liabilities / assets is the difference between profit as per income tax act and profit as per comanies act.
depereciation is the main reason for differences in differences in profit as per IT act and Comapnies act (due to differences rates of depreciation)
read below article for more details.
/articles/details.asp?mod_id=13385#.T-Gs3JG0Zdg
Saurabh Maheshwari
(B.com,ACA)
(5923 Points)
Replied 20 June 2012
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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