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As 22:deferred tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 October 2015 Consider the case:
Balance sheet as on 31.3.2015 signed on 2.09.2015. As on that date, Vat,Bonus,etc have not been paid yet.
The said amounts are paid on 31 October 2015.(i.e in future)

Question 1) Will deferred tax be created on VAT/Bonus (payable) ?

Question 2 ) Audit report needs to be signed before 'due date'.
Will it be ok if it's signed ON the due date? (31st October)?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
31 October 2015 1 Yes it has to be created.
2 It is OK if it is signed on the due date.

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