In Computing Income whether Deffered Tax Arise. for example i am booking expense in books by following Accounting Standard
but while calculating income as per income tax by following ICDS. whether deffered tax arise or not
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Deferred tax asset or liability arises when there is a difference in accounting income and taxable income. Hence , it may arise if there are certain expenses/incomes in your books whose treatment is different in AS and ICDS.
Deferred tax asset or liability arises when there is a timing difference in accounting income and taxable income. Hence , it may arise if there are certain expenses/incomes in your books whose treatment is different in AS and ICDS.
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