How can Calculate Deferred Tax of Any Firm Like Pvt. Ltd.
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Answer / r.chandrasekaran
Deferred Tax liability is only a provision in the balance sheet, which will be calculated on the difference amount of the WDV of Fixed Assets as per Companies Act and as per Income Tax Act at the end of each financial year.
| Is This Answer Correct ? | 6 Yes | 2 No |
Defered tax Asset/iability will be arise only when there is any differences between as per companies act and as per income tax act .
Mostly we use deffered tax in our daily life for most of the pvt companies it arises only in depreciation cases , where as per IT and CO. rates are different , so deffered tax Asset/ liability arises .
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Answer / laksh
The deferred tax different between accounting income and tax income
It may be deferred liability or deffered asset.
example: abc company account income 2500,incometax 2800,
300 is the deferred liablity
same follow the deferred asset
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