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Answer Posted / harrie007
Deffered Tax basically arises due to Timing difference.
DTL arises when we have made more provision of Tax as per
Co.s Act, 1956 than the actual Tax liability as per Income
Tax act, 1961. i.e. due to some expenditure like
Depreciation, amortised expenditure which are not allowed
or less allowed as per Co.s Act but on the same time fully
allowed or allowed at a higher rate as per Income tax Act,
due to the same profits as per co.s act gets more than that
of income tax act and accordingly more provision is made
but the lesser tax is paid. In layman terms we can say that
we have to pay this tax after some time i.e it is our
liability and its called Deffered Tax Liability.
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