as 22
This query is : Open
11 February 2011
What is the basic concept of Deferred Tax Liability/Asset? How it is arrise?
Also can anyone forward problems and solutions on Dererred Tax Liability/Assets to understand the concept.
Also can anyone forward problems and solutions on Dererred Tax Liability/Assets to understand the concept.
12 February 2011
Hi,
Its very Simple.
You hav to understand one thing, that is.
Taxable Income as per Financial Accounts (Following Companies Act provisions) may be different
AND
Taxable Income as per Income Tax Act may be Different.
Accounting for the Same is Given is Accountaning Standard - 22
Pls Go through "Beginners Guide on Accounting Standards" by
M.P. VijayKumar.
Incase if u still cant understand, Pls feel Free to join my Community "Lo Aca"
I shall be able to Explain better with some examples.
Thank you
Regards
CA. Lohith. J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
Its very Simple.
You hav to understand one thing, that is.
Taxable Income as per Financial Accounts (Following Companies Act provisions) may be different
AND
Taxable Income as per Income Tax Act may be Different.
Accounting for the Same is Given is Accountaning Standard - 22
Pls Go through "Beginners Guide on Accounting Standards" by
M.P. VijayKumar.
Incase if u still cant understand, Pls feel Free to join my Community "Lo Aca"
I shall be able to Explain better with some examples.
Thank you
Regards
CA. Lohith. J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
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