Hi,
If current tax is 10000 and
deferred tax expense/liability is 5000 (arose from new PPE)
company has policy to clear taxes in the current year.
what is the amount paid?
10000
or
15000?
Txs
Menu
Deferred taxes
Replies (2)
Current tax in the sense, I assumed it was as a Income tax payable as per IT act you have to pay 10000, and tax as per books 5000, difference 5000 is an deferred tax asset, if tax payable as per books 15000, diff 5000 is deferred tax liability. I hope u understand
I am preparing final statements. This means as per the book way correct
Recent Topic
- Client consent under DPDPA: Is client sharing PAN,
- TDS MISMATCH
- Rebate on other income even if LTCG is above my 12
- Need CA to certify shareholding pattern.
- Ltcg savings
- Please share the roc and income tax compliance fo
- Proprietor have 2 business. One is registered unde
- ITR-4 – Gross Receipts or Turnover for Secti
- Unrelated entries in AIS and Form 26as
- Payment to foreign national
Related Topics
CAclubindia
