Deferred Tax
This query is : Resolved
11 May 2009
Whether
Timing Difference = Accounting income - Taxable income OR Taxable income - Accounting income
Timing Difference = Accounting income - Taxable income OR Taxable income - Accounting income
CA Sanjeev Kr Jain
(Expert)
11 May 2009
timing difference is generally relates to difference in depriciation calculated under income tax Vs companies act
Parveen Bansal
(Expert)
11 May 2009
It should be Accouting income less taxable income. Assuming the diffrence is temporary diffrence, positive will create deferred liability. Negative will create deferred asset.
taxindiaconnect
(Expert)
11 May 2009
I am just replying on the basis of logic. According to me it is the Accounting income minus taxable income as the deferred tax assets of liability is recognised in the accounting books, the accouting profits needed to be compared with tax profits. Hope this logic works.
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