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Icds

Saurav (CA) (211 Points)

30 May 2016

In Computing Income whether Deffered Tax Arise. for example i am booking expense in books by following Accounting Standard

but while calculating income as per income tax by following ICDS. whether deffered tax arise or not

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2 Replies

Ruchi (CA) (1410 Points)
Replied 31 May 2016

Deferred tax asset or liability arises when there is a difference in accounting income and taxable income. Hence , it may arise if there are certain expenses/incomes in your books whose treatment is different in AS and ICDS.

subhash kumar jha (PROFESSION) (445 Points)
Replied 31 May 2016

Deferred tax asset or liability arises when there is a timing difference in accounting income and taxable income. Hence , it may arise if there are certain expenses/incomes in your books whose treatment is different in AS and ICDS.