Treatment of taxation in accounts
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 November 2015
How is provision for taxation, deferred tax and advance tax are treated in accounts?
26 November 2015
Provision of taxation will be under current liabilities and provision
Advance tax will be under current assets till the adjustment of tax
Deferred tax depends on the balance as liability or asset
Advance tax will be under current assets till the adjustment of tax
Deferred tax depends on the balance as liability or asset
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