Deferred tax liability/assets
This query is : Resolved
22 December 2011
What is deferred tax liability/Assets?
What is the procedure to calculate it ?
What is the procedure to calculate it ?
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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- Not able to file ITR
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- FEMA regulation Act. for inward remitance
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
