Deffered tax

I think defered tax liability should be  463,556 at end for considering write back..

but why they represent in P & L A/c =7,21 062

please help me ......... & clarify all the above equation please......

i have not understand better....... please....

priyanka

There may be some additional details in question u need to provide 

there two difference for Defferred tax liablity timing difference and permanent difference 

Kindly provide question thn ans can be justified.....

I have contain only this information .........

this information is not sufficient for justification ? 

but please give mi some small justification about this.......

priyanka

Out of total 7,261,447, only 721062 will be relating to timing difference so it has charged to P&L. Rest will be permanent difference.

Try to understand the concept rather than looking at solution/ presentation..

 

Please explain me the concept of Defferred tax liablity timing difference and permanent 
difference..................?

with good example...........

priyanka
 

i found link on caclubindia 

hope this helpful

/articles/as-22-accounting-for-taxes-on-income-brief-note-7361.asp#.Uww6kbnzuIU

No Yar Not Solve.....

p & l debit side                                           p & l credit side

total = 299543560.73                                    total = 305108901.45

net profit = 6286402.72                                 Differed Tax = 721062

now explain me what is time diffrence & permanent Diffrence ? pleas refer my 1 st quary

priyanka

Pleae Explain Me Yar.............

Priyanka.........

Timimg differences are the items in computation of income as per IT Act, 1961 which are capable of reversal in future years. Ex-Depreciation as per Companies act and Depreciation as per IT Act.

Say, Dep as per Comp Act is Rs.1,00,000 and Dep as per IT Act is Rs.1,50,000 now the IT Deptt will allow the dep as per IT Act i.e Rs.1,50,000 (difference is due to the difference in rates of depreciation under Comp Act and IT Act). Now this excess dep allowed as per IT Act will get reversed in future years when asset will depreciate on higher amount under comp act(bcoz dep is lower at present under Comp Act) and lower amount in IT Act(bcoz dep is higher at present under IT Act)

Whereas Permanent Difference are the items in computation of income as per IT Act, 1961 which are not capable of reversal in future years. Ex-Scientific research expenditure

Originally posted by : PRIYANKA
	No Yar Not Solve..... p & l debit side                                           p & l credit side total = 299543560.73                                    total = 305108901.45 net profit = 6286402.72                                 Differed Tax = 721062 now explain me what is time diffrence & permanent Diffrence ? pleas refer my 1 st quary priyanka

Leave this question and try to understand concept ....

there is high possibility the solution may b incorrect