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What is Differed tax Liability?
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Answer / 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 |
Answer / pawanlodh
defferred tax liability arises due to postponing the tax
liability for a financial year, due to increasing ur
depreciation & amortised expenses in the year, profit
become less than actual bcoz of this less tax to be paid by
assessee, it postpone tax payable to next year & further
years.
| Is This Answer Correct ? | 10 Yes | 3 No |
Answer / rajnath maurya
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 as a result profit
becoms short in the eye of it low, as such we can say we
have to pay our taxes by some time after
| Is This Answer Correct ? | 0 Yes | 1 No |
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