Differentiate deferred tax under companies act and income tax.
some year tax amount is less from net profit but sometimes add with net profit. what is the provision!
Deferred tax is to be calculated on expenses having timing difference for charge off in companies act and income tax act.
For example, depreciation rates are different in both act and therefore deferred tax will be calculated @ of applicable tax rate (presently 30% in case of domestic companies) on the difference between both the depreciation.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
View Details
CAclubindia
