banner_ad

Deffered Tax Asset/Liability

This query is : Resolved 
Profile Image

Profile Image

(Querist)
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.
Profile Image

CA. Gurdeep Singh Chawla

Profile Image

CA. Gurdeep Singh Chawla (Expert)
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


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details