Dear Members,
May i know what is deffered tax. In what Cases it will come.
Thanks
@ CA. $ahar$h @
(Student)
(338 Points)
Replied 26 December 2009
Dear Guhnadh,
There is a difference between the balance sheet we prepare for account and the one we prepare for taxation purpose. for eg. as U might be knowing there is a difference in the taxation rates as per income tax and as per accounts. So the amount of tax calculated will be different so diference in the tax rates is adjusted in later years. As a result we have either deffered tax (asset or liability). for details read AS-22 DTA and DTL. All will be clear frnd.
PREM kasi
(Internal audit)
(69 Points)
Replied 28 June 2014
sir... provision for deffered tax is appropriation or an expense ?? is it appplicable to all assseses ??
CAclubindia
