What is Deffard Tax Asset and Deffard Tax Laibility,
why it is necessary to make such provisions in balancesheet.
2 Replies
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
Refer vignesh kuller article "deferred tax in simple words",just search on google.
Recent Topics
- CLAIMING OF U CLAIMED RCM
- Building construction works
- REGARDING GSTR-9 F.Y 2023-24
- Rectification to decrease income in SCHEDULE OS
- Can Statutory Auditor of a subsidiary become concu
- Client Asking for the Revised Invoice
- Share office desk in bkc, near family court
- 80D claim for payment paid by parent
- TDS on purchase of Flat under subvention scheme be
- GST registration for medical shop in Karnataka
Related Threads
CAclubindia
