PROVISION FOR PROPERTY TAX ON BUILDING, WHETHER IT REQUIRE DEFERRED TAX TREATMENT AS PER AS 22
This query is : Resolved
24 August 2023
Company is making the provision for property tax on its building, Since the disputes with the municipal authority it will not be paid before filing the due date of return of income, payment will be made only after getting the property tax assessment order from the dept. whether we need to provide the deferred tax treatment in the books of the company as per AS 22
24 August 2023
Yes, The deferred income tax is a liability that the company has on its balance sheet but that is not due for payment yet. This more complicated part of the income tax provision calculates a cumulative total of the temporary differences and applies the appropriate tax rate to that total.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Exiting partner in partnership firm in gst portal
- CLOSING STOCK QUERY
- Gst on travel by air for business purposes
- Rent claimed on building given on permissive possession basis
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- Residential status of non resident
- NRI INSURANCE ADVISOR
- Applicability of Books of Account for Commission Income (Sections 194D & 194H)
- TDS _Long term Capital Gain ref.sec 214 Table 2
- Error in uploading Form 10BD
- Missed TDS
- Query regarding Item 61/62/63 vs Item 64 in ITR-3
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
