Deferred tax liability/assets
This query is : Resolved
Anil Bhandari
(Querist)
22 December 2011
What is deferred tax liability/Assets?
What is the procedure to calculate it ?
What is the procedure to calculate it ?
CA. RAGHAV GARG
(Expert)
23 December 2011
Dear Mr. Anil,
You need to check AS-22 for same,
However for a layman,
DTA/DTL are your assets or liabilities of Income Tax you have saved or have to pay in near future, because of different accounting policy as per you and Income Tax Act.
It can be estimated by multipling the applicable tax rate of your Profit as per PL with you accounting policies followed, and Net Taxable Income as per Income Tax Act.
This is created on Timing Difference which have arised due to different policies followed.
For further please go through AS - 22, or ask a specific Question with Facts.
--
Regards,
Garg Garg & Associates
Raghav Garg | Partner | Chartered Accountants
Kothi No. 35, Sector 7, Urban Estate,
Kurukshetra, Haryana 136118
Mobile: +91 981 222 0035
Email: ca.raghavgarg@gmail.com
Thank you for considering the environmental impact of printing emails
You need to check AS-22 for same,
However for a layman,
DTA/DTL are your assets or liabilities of Income Tax you have saved or have to pay in near future, because of different accounting policy as per you and Income Tax Act.
It can be estimated by multipling the applicable tax rate of your Profit as per PL with you accounting policies followed, and Net Taxable Income as per Income Tax Act.
This is created on Timing Difference which have arised due to different policies followed.
For further please go through AS - 22, or ask a specific Question with Facts.
--
Regards,
Garg Garg & Associates
Raghav Garg | Partner | Chartered Accountants
Kothi No. 35, Sector 7, Urban Estate,
Kurukshetra, Haryana 136118
Mobile: +91 981 222 0035
Email: ca.raghavgarg@gmail.com
Thank you for considering the environmental impact of printing emails
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