deffered tax liability
This query is : Resolved
08 February 2009
how can we calculate deffered tax liability
for company?
for company?
CA. B.SRINIVASULU
(Expert)
08 February 2009
Deffered Tax liability is originating from timing differece.
You have to calculate as per accounting standrad 22 of icai.
In simple you would have debited certian items in your profit and loss account but for income tax the treatment will be different.
For eg. Income tax depreciation and companies act depreciation.
Eg :
Depreciation calcuated as per it 818035
Depreciation calculated as per coy 40234
Originating time Difference
Differnce between two 415461
Rate of Tax 30.90%
Deferrred Tax liability - 128433.
You have to calculate as per accounting standrad 22 of icai.
In simple you would have debited certian items in your profit and loss account but for income tax the treatment will be different.
For eg. Income tax depreciation and companies act depreciation.
Eg :
Depreciation calcuated as per it 818035
Depreciation calculated as per coy 40234
Originating time Difference
Differnce between two 415461
Rate of Tax 30.90%
Deferrred Tax liability - 128433.
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