DISCLOSURE OF DEFERRED TAX LIABILITY IN BS

This query is : Resolved

Ca Aashish Upadhyay (Querist)
Follow

13 August 2010 Kindly explain with reason the disclosure requirements in respect of DTL. One of my counterpart wants us to show under the Share Holders fund however i am thinking otherwise.

So please give me some authentic proofs in response to your kind answers.

Thanks and Regards

Aditya Maheshwari

Aditya Maheshwari (Expert)
Follow

13 August 2010 U can read any balance sheet of listed company.

below shareholders fund and loan funds.

Aditya Maheshwari

Aditya Maheshwari (Expert)
Follow

13 August 2010 As per AS - 22 para 32
Deferred tax assets and liabilities should be distinguished from assets and liabilities representing current tax for the period. Deferred tax assets and liabilities should be disclosed under a separate heading in the balance sheet of the enterprise, separately from current assets and current liabilities.

Explanation:

Deferred tax assets (net of the deferred tax liabilities, if any, in accordance with paragraph 29) is disclosed on the face of the balance sheet separately after the head ‘Investments’ and deferred tax liabilities (net of the deferred tax assets, if any, in accordance with paragraph 29) is disclosed on the face of the balance sheet separately after the head ‘Unsecured Loans’.

Message likes : 1 times

CA Sanat Pyne

CA Sanat Pyne (Expert)
Follow

13 August 2010 AS PER AS 22
Deferred tax assets and liabilities should be disclosed under a separate heading in the balance sheet of the enterprise, separately from current assets and current liabilities.

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

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

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

Rampal Saini

Narendra

Vivekanand Sagar

SANJAY GOSALIA

Amit Goyal

Subscribe Now

DISCLOSURE OF DEFERRED TAX LIABILITY IN BS

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Manager- Finance and Compliance

GST CONSULTANCY

Accountant

Article Assistant

CA Final

GST CONSULTANT