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deferred tax liability/assets

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shrishail (Querist)
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11 February 2011 Dear sir/Madam,

What is the basic concept of Deferred Tax Liability/Asset? How it is arrise?

Also can anyone forward problems and solutions on Dererred Tax Liability/Assets to understand the concept.

Thanks,

Regards,
Shrishail

My email id: shrishail.umaranikar@rediffmail.com

CA. Lohith Jagadeesh

CA. Lohith Jagadeesh (Expert)
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12 February 2011 Hi,
Its very Simple.

You hav to understand one thing, that is.

Taxable Income as per Financial Accounts (Following Companies Act provisions) may be different

AND

Taxable Income as per Income Tax Act may be Different.

Accounting for the Same is Given is Accountaning Standard - 22

Pls Go through "Beginners Guide on Accounting Standards" by
M.P. VijayKumar.

Incase if u still cant understand, Pls feel Free to join my Community "Lo Aca"
I shall be able to Explain better with some examples.

Thank you

Regards
CA. Lohith. J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons

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