If Provision for taxation is Rs. 1,40,000 and Advance Tax is Rs. 50,000 in the TRIAL BALANCE and it is said to calculate deferred tax asset, how should i do it??
Please mention how to calculate deferred tax assets in similar cases where there is no depreciation or other details provided but only information regarding provision of tax, advance tax, new provision, completion of earlier year's tax assessment etc are given in a problem...
regards...
as per as i KNOW only for timing difference DEFERRED tax is in
hi,
deffered tax arises only with respect to timing difference and it is no way related to provision for it or advance tax. it is the timing difference between accounting income and taxable income what you should consider.
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