defrred Tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 August 2010
What is Adjustment Entry,Of Defrred Tax Assets Made By Concern On Unabsorbed Dep., But No Convincing Evidence that sufficient Taxable Income Will Be available.
14 August 2010
If there is no virtual certanity followed by convincing evidence, no need to book deferred tax asset. If booked, the entry would be debit deferred tas asset and credit deferred tax. The credit aspect will be taken to P & l account and the debit aspect will be carried ti B/S.
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