respected members,
i am facing a dilemma here.
I have no know ledge about deferred tax liability & assets about its calculation & disclosure requirements in balance sheet as well as for any other report purpose. Please also explain about MAT Credit, & unabsorbed depreciation in income tax & its relation with deffred tax calculations.
SO please help me in this matter with depth knowledge & also explain me with examples.
differed tax will be calculated on the differences in allowances calculated as per income tax and company act at the rate of 30% ...when income tax provides more deduction than calculation made as per companies act then it will be DEFFERED TAX LIABILITY. and DEFFERED TAX ASSET in other case..
Triveni Turbine Limited
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BHUPINDER SHAH AND COMPANY
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CAclubindia
