Deferred tax is an accounting term, meaning future tax 
liability or asset, resulting from temporary differences 
between book (accounting) value of assets and liabilities, 
and their tax value. This arises due to differences between 
accounting for shareholders and tax accounting.

Tax deferral may also refer to incentives provided that 
allow a taxpayer (an individual or a company) to defer or 
delay payment of taxes to future years.

This arises due to timeing differences between taxable 
income and profit as per the books

in this permanent difference should be ignored 

the temporary difference (i.e timing difference) considered 
as deffered tax asset or liability