What is deffered tax liability / assets?
Answers were Sorted based on User's Feedback
Answer / h.r. sreepada bhagi
Deferred Tax liability is tax that may have to be paid in
future on a/c of excess of book profit over profit arrived
at as per the provisions of Income Tax Act. 1961. Deferred
Tax asset is due to excess of profit as per Income Tax
computation over Book Profit.
One reason of this is difference in the amount of
depreciation on Fixed Assets calculated as per the Income
Tax Act, 1961 & the Companies Act, 1956. Deferred Tax Asset
& Liability can be set-off as per the provisions of the
Income Tax Act.
Is This Answer Correct ? | 5 Yes | 0 No |
Answer / guest
Defferred taxes are future tax liability or asset that
results from temporary differences between book value
(accounting) of liability or asset and their tax value.
Is This Answer Correct ? | 4 Yes | 4 No |
Tell me do you think accounting standards are mandatory and why?
discuss depreciation and types of depreciation
Explain accounting 101?
Explain the Steps to transfer the data from AP to GL
BRS
2 Answers Akzonobel, BEL, Chartered Accountant,
What is the difference between the accrual accounting and cash accounting?
WHAT IS DIFFERNCE BETWEEN CREDIT & DEBIT
what is the difference between TDS & TCS? Note:- Plz don't tell the ful form of tds & tcs
3 Answers Jaguar, National Granites,
give me examples of the accounting reports you have prepared
PROVIDENT FUND TO BE CALCULATED ON BASIC AFTER DEDUCTION OF ABSENTS (LOP)
What is the reason for balance sheet not getting talleyed?
what is enty of income tax paid by company.& what is group of income tax paid.