What is Deffered Tax Laibility .How can we calculate Deffered Tax Liability.
And in last How can we Clear the Account of Deffered Tax Liability
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deffered tax liability
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Deferred tax liability in created on timing timing differences as per Income Tax Act and book where deduction allowable as per Income Tax act is more than as per books. When the said difference is being reversed the said deferred tax liability is reversed.
Read AS - 22 for more clarity
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