deffered tax liability and asset

This query is : Resolved

AMIT KUMAR ROY (Querist)
Follow

08 April 2008 sir,

i want to know that how can i ascertain that for financial year it is deffered asset or liability.

please explain that with a practical example so can i understand it easily.

thanks sir

MANAS ROUT

MANAS ROUT (Expert)
Follow

08 April 2008 if the taxable income as per it act is more as compare to accounting income and you are pay now more tax it will be refererred in future you have to treat as defferred tax asset.
if the taxable income as per it act is less as compare to accounting income and you are paying less tax you have to pay more tax in future it is deffer tax liability.
for detail see the accounting standard 22 in MP VIJAY KUMAR BOOK.

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

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

SHRI HARIRAO

damodara rao tedla

ashvini tripathi

Yash

Choudhary

Subscribe Now

deffered tax liability and asset

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

Senior Executive

Manager- Finance and Compliance

Accountant

GST CONSULTANT

CA Final