21 November 2008
Tax effect on timing differences on account of difference between accounting income and taxable income. For details refer AS-22 of ICAI.
21 November 2008
Deferred tax is an accounting concept, meaning a future tax liability or asset, resulting from temporary differences between book (accounting) value of assets and liabilities and their tax value, or timing differences between the recognition of gains and losses in financial statements and their recognition in a tax computation.
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