Easy Office
LCI Learning

Deferred tax liability

This query is : Resolved 
Profile Image

Profile Image

(Querist)
28 April 2011 Is deferred tax liability a provision for future tax payment, or it is just a reserves & surplus? Kindly explain.
Profile Image

CA Navin Jain

Profile Image

CA Navin Jain (Expert)
28 April 2011 provision for future tax
Profile Image

Rajan Kapoor

Profile Image

Rajan Kapoor (Expert)
28 April 2011 Timing difference may lead Income Tax of initial years being lower and subsequent years being higher. (Save tax now, Pay tax later).It is provision for future tax payment.



Profile Image

CA Punit

Profile Image

CA Punit (Expert)
28 April 2011 agree.. but would like to add a line

its a provision for tax liability that gets postponed because of diff in tax laws..
Profile Image

Bhaskaran Chackrapani Warrier

Profile Image

Bhaskaran Chackrapani Warrier (Expert)
30 April 2011 It is not a 'reserve & surplus'. To be shown in the balance sheet under separate head.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries



Trending Online Classes

view all classess
CCI Pro


Answer Query



Quick Links