Define deferred tax liability? What items come under deferred tax liability?
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Answer / Yogesh Pandey
Deferred Tax Liability (DTL) is a liability that arises due to timing differences between the recognition of income for accounting purposes and for tax purposes. DTL comes into existence when an asset or liability is recognized in the balance sheet at one time, but the tax impact is recognized at another time. Common items under deferred tax liability include temporary differences due to the taxation of capital gains, tax loss carryforwards, and tax-exempt income.
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