Accounting of Deferred Tax
This query is : Resolved
12 June 2009
Why deferred tax worked and deducted from current year profit ?
chetan soni
(Expert)
12 June 2009
As per accounting standard this need to be done. This is worked to present the financial's to tally with tax liability as per accounting profit. This presents the true & fair picture of accounts.
Also note this is not deducted from profit of the operations, this is just an apportion of profit to arrive at profit available to shareholders.
Also note this is not deducted from profit of the operations, this is just an apportion of profit to arrive at profit available to shareholders.
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