What is deffered tax liability / assets?
Answers were Sorted based on User's Feedback
Answer / h.r. sreepada bhagi
Deferred Tax liability is tax that may have to be paid in
future on a/c of excess of book profit over profit arrived
at as per the provisions of Income Tax Act. 1961. Deferred
Tax asset is due to excess of profit as per Income Tax
computation over Book Profit.
One reason of this is difference in the amount of
depreciation on Fixed Assets calculated as per the Income
Tax Act, 1961 & the Companies Act, 1956. Deferred Tax Asset
& Liability can be set-off as per the provisions of the
Income Tax Act.
Is This Answer Correct ? | 5 Yes | 0 No |
Answer / guest
Defferred taxes are future tax liability or asset that
results from temporary differences between book value
(accounting) of liability or asset and their tax value.
Is This Answer Correct ? | 4 Yes | 4 No |
Non-performing Asset (NPA)
journal entries
what is the meaning of banking
Where accumulated Depreciation appears - b/s or p&l. please provide journal entry while accumulating and also while using the fund for purchase of new assets.
Sales Invoice 50000/- fully profit , management want profit for this year should be appear in P&L A/c and B/S 25000/- only and remaining 25000/- profit retain for the next year What will be JV for this year and next year?- Thank you
what is branch reconciliation?what is the Procedure of Branch reconcile step by step?
2 Answers HCL, HPCL, Treebo Hotels,
Please tell me what is the journal entry of closing balance ?
what is the rate of purchasing computer goods from Gujarat, with C form, and what is the rate to sale it in Diu (Union Territory).
As you know excellent communication skills are at the core of this position. Do you have experience with interpersonal communication in a professional setting?
How do you deal with a dishonoured cheque in the client trust account records. Manual or computer system?
how can i settle the party ac with cr & dr
Why we are crediting Gross profit or debiting a Gross loss in the profit and loss account?