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Deferred Tax

This query is : Resolved 
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(Querist)
11 May 2009 Whether
Timing Difference = Accounting income - Taxable income OR Taxable income - Accounting income
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CA Sanjeev Kr Jain

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CA Sanjeev Kr Jain (Expert)
11 May 2009 timing difference is generally relates to difference in depriciation calculated under income tax Vs companies act
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Parveen Bansal

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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.
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taxindiaconnect

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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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