how to calculate the deffered tax ? and what is deffered tax asset and liability? please give me example
2 Replies
daya shankar singh
(CA ,CS)
(629 Points)
Replied 18 May 2010
DTA is the asset which will be created for any financial year when any expenses is disallowed by the ITA and it can be reviewed and revised in subsequent years.
DTL is the liability recognised for any financial year where there is excess allowance by the ITA.
The method use for recognition of DTA and DTL is as follow
Opening bal. xxxxxx
+addition xxxxxx
-deletion xxxxxx
balance xxxxxx
tax rate
DTA/DTL(B/S value)
-opening bal
DTA/DTL(P/L value)
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