deffer tax & provision
This query is : Resolved
24 June 2011
Sir,
I have two questions as below mentioned
1.what is differed tax and its purpose in accounts
2.How many entries of provision and its type.
I have two questions as below mentioned
1.what is differed tax and its purpose in accounts
2.How many entries of provision and its type.
CMA Ramesh Krishnan
(Expert)
26 June 2011
Deferred tax is difference between tax on profit calculated as per books and as per Income tax. providing deferred tax in accounts to show the correct tax expenses and true profit
for complete details please refer Accounting Standard 22
for complete details please refer Accounting Standard 22
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