MSME Certified Income Tax Live Batch to commence from 21st January 2022. Limited Seats. Register Now!!

taskopad

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Deffered Tax Asset/Liability

This query is : Resolved 

06 August 2009 Sir,My clint is Partnership Firm.Firm has loss of Rs.25657 during the year 2008-09.What is the deferred taxasset/liabilty? for accounting and plz explain the desclosere.

06 August 2009 Deferred tax is the tax effect of timing differences.Timing differences are the differences between taxable income and accounting income for a period that originate in one period and are capable of reversal in one or more subsequent periods.
Examples:
- Depreciation rate/method different as per Accounts and Income tax Calculation
- Expenditure of the nature mentioned in Section 43B (e.g. sales tax charged in account on accrual basis but not paid; such sales tax will be an allowable expenditure in the year of payment and a disallowable expenditure in the year in which accrued



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


Similar Resolved Queries


loading





expand_less