Deffered tax assets and deffered tax liabilities

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Querist : Anonymous

Querist : Anonymous (Querist)

14 November 2014 Deffered tax assets show under which head in balance sheet
Deffered tax liabilities show under which head in balance sheet.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

14 November 2014 Ltd co's has to follow revised schedule VI to prepare balance sheet in which DTA and DTL should be shown on the face of the balance sheet in that head itself.

Querist : Anonymous

Querist : Anonymous (Querist)

14 November 2014 dear sir
please mention

deffered tax assets - under which head of assets
deffered tax liabilities -under which head of liabilities
i can show,

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

15 November 2014 on the face of the Balance Sheet, the
following items shall be disclosed under non-current liabilities.

• Deferred tax liabilities (Net);

Deferred tax asset has to be adjusted against deferred tax liability if liability is more and only net has to be disclosed as shown above.
In case of deferred tax asset is more it has to be netted against liability and shown in the asset side under non-current assets.

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