deferred tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 June 2010
hi
whether deferred tax is a allowable expenditure for calculating the taxable income
whether deferred tax is a allowable expenditure for calculating the taxable income
07 June 2010
Not at all its an allowable expenditure for tax purpose.
It is an adjustment of future taxes as per accounting standards and it is not any way related to Tax purpose.
It is an adjustment of future taxes as per accounting standards and it is not any way related to Tax purpose.
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 June 2010
thanks sir
07 June 2010
AGREED, IT IS PROVISION FOR FUTURE TAX OUT OF RESERVES. IT IS NOT EXPENSE ITEM.
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