Provision for tax and deffered tax


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Querist : Anonymous

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Querist : Anonymous (Querist)
06 January 2013 dear sir,

please clarify the following

can we show deffered tax(asset/liability) and provision for tax together in the balance sheet,and pls clarify me

how prov for tax and DTA/DTL will be adjusted at the year end to show in the balance sheet

07 January 2013 they are always shown separately....no need of adjustment...at each balance sheet date we assess the DTL/DTA and it is automatically adjusted for actual payment of tax...(less liability or more liability than provided for and automatically gets closed)

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 January 2013 thank you so much for the reply,

but please provide me the necessary journal entries,how they operate.


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