Interested to Buy Any Domain ? << Click Here >> for more details...
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.
| Is This Answer Correct ? | 17 Yes | 1 No |
Post New Answer View All Answers
we have paid excess tds amount in 194I 27000/- for f.y.2017-18 now can we adjust the same in upcoming month 2018-19?
witch taxes are calculate in CENVAT for Gold ornaments ?
How To Calculate Gross Sales for vat return -15
What is income tax? How is it calculated?
if threshhold limit is crossed then tds is deducted on which amount ? Aggregate or exceeding threshold limit?
While I prepare Form JJ for goods transfer I made a mistake that the value of goods is morethan the actual value(i.e. instead of Rs.92100/- I filed Rs.1354000/-)and the copy of JJ sheet is sealed in the checkpost one copy is taken in the checkpost. please anybody give me the exact solution. thanks
What is the value of the Budget for 2009-10
Hi, I am a VAT/CST dealer in Pune. I had got a work contract with other AP state government. can i purchase material in AP state on 2% CST on issuing 'C' form and supply the same material to the AP state government on VAT /CST 5%. As the government departments are not issuing 'D' forms. please guide.
what is Bank Stock Statement and which companies required bank stock statement, how can we make the bank stock statement
Can we use ST-38 outward form for a sale of Rs-100000/- with in the state i.e haryana
What r the foll tax deductions for :- 1.TDS 2.WCT Give me answers in detail & give me some addtional info on these topics which would be helpful for me.
Ganesh & Gopal joined a firm drawing salary of Rs 25000 per month.After serving 3 yrs ,they started business of their own in partnership,contributing Rs200000(expected life 10 yrs,bought spare parts worth Rs 33000 from Kundu on credit.Office supplies were purchased for cash.Initially they were very busy in conducting their business operations but by the end of the 1st year,31/12/2005 they were disappointed when they found their bank balances.Following is the summary of their bank statement. Receipts: Share Capital Rs 250000 Collections from Customers 412000 Payments: Equipment 200000 Salaries of Assistants 88000 Rent advance for 2 yrs 96000 On-year ins. Policy on equipment 12000 Office stationery 27000 Payment to Kundu 29000 Withdrawals of Ganesh 90000 Withdrawals of Gopal 90000 Closing balance c/d 30000 ----------- Total : 6,62,000 Still amount receivable from customers for services to them amounted to Rs 30,000 & closing balance of office stationery is Rs2000,spare parts Rs2600 were utilised by the end of the year .Prepare trial balance with the available information and show total. Also what is the net profit.
What is meant by Cost of Improvement?
what is the procedure for Excisable goods transfer from Head office to branch and vice versa (the branch is located in the same state) also if the branch is located in other states. How will it affect the VAT returns
hi which form issue again ogs purches & sales ? which is the tax rat we issue c form?it's cst3% is avelabe to issue the c-form?
