deferred tax
This query is : Resolved
CA. AMIT AGARWAL
(Expert)
19 October 2008
Deferred Tax is the difference between Accounting Income & Taxable Income due to timing differences. Deferred tax may be DEferred tax Assets/Liablilies....
Eg 1) Carry Forward of Losses Undet IT Act.
2) Difference in the rate of depreciation between Income Tax Depreciation & Book depreciation.
3) Unabsorbed depreciation Under IT Act
Eg 1) Carry Forward of Losses Undet IT Act.
2) Difference in the rate of depreciation between Income Tax Depreciation & Book depreciation.
3) Unabsorbed depreciation Under IT Act
19 October 2008
DEFERRED TAX is created for timing differences ,for which tax in future will be paid or will be reduced.
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