Deferred tax asset/Liability

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PARAS LAMBA

PARAS LAMBA (Querist)
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14 July 2011 What Is deferred tax asset and deferred Liability???
How it is calculated????

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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14 July 2011 Deferred tax asset or Liability is arising the tax difference between the profit as per books of accounts and book profit calculated as per income tax . to provide the tax expenses correctly in the book and arrive the correct profit the deferred tax assets and liability are created in books, for complete calculation please refer AS-22

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