Answer / dj

Deferral means postponed.

Deferred tax is an accounting concept, meaning a future tax
liability or asset, resulting from temporary differences
between book (accounting) value of assets and liabilities
and their tax value, or timing differences between the
recognition of gains and losses in financial statements and
their recognition in a tax computation.

What kind of temporary differences?

Temporary differences are differences between the carrying
amount of an asset or liability recognized in the balance
sheet and the amount attributed to that asset or liability
for tax purposes.

Temporary differences may be either:

1)Taxable temporary differences, which are temporary
differences that will result in taxable amounts in
determining taxable profit (tax loss) of future periods when
the carrying amount of the asset or liability is recovered
or settled; or
2)Deductible temporary differences, which are temporary
differences that will result in deductible amounts in
determining taxable profit (tax loss) of future periods when
the carrying amount of the asset or liability is recovered
or settled.

So,Deferred Tax Liability means the company postpones its
tax liability from the present period to a future period.
Taxable differences give rise to deferred tax liabilities.
Deferred tax liabilities consist of the tax effect of only
one item: Taxable temporary differences.

Deferred Tax Liability = Taxable Differences * Tax Rate.

{And Tax liability means A legal claim on assets.}

what is corporate action? wt is the purpose and tpes of corporate actions?

2 Answers   Ness Technologies,

---

The Bad Debts figure in the trial balance is 170. The following info is to be taken into account: A provision for bad debts of 5% of debtors is to be created

2 Answers  

---

if you reconsilation is doing at end of the month 31 march. you have question for one amount on 30th march which is the banker said that we do not know about the 30th march entry, the amount deposit and expenses. please come after one week. but u need to complete reconcilation end of march. so, what will you do know?

6 Answers   Genpact,

---

What is the journal entry of.Tds. ?

3 Answers   Infosys,

---

What is ASAP methodology

4 Answers  

---

what is the meaning of hedging?

17 Answers   Capital IQ,

---

What is the full from of DR and CR ?

19 Answers   Adani, Adani Wilmar,

---

can anyone give the journal entry with the amount 10 tv bought in the business for 1000 each, out of which one is installed.

34 Answers   Capital IQ, Genpact,

---

You placed an Order for some books but it was not delivered on time or the books were damaged, so are write Complaint Letter to the Shopkeeper about it.

0 Answers   EDS,

---

what is duties and responsibilities for clark working in sbi

0 Answers   State Bank Of India SBI,

---

What is Portfolio? What is the Portfolio Management style? Explain Briefly the investment Process?

2 Answers   BirlaSoft,

---

Explain "debit what comes in credit what goes out"

6 Answers  

---