Interested to Buy Any Domain ? << Click Here >> for more details...
What is deferred Tax, deferred Assets & deferred liability
? What is the procedure to calculate?
- 3 Answers
- 12119 Views
- George Group, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / amit banerjee
Deferred tax liability arises if the value of the asset
after depreciation in books of accounts is MORE than the
value of asset where depreciation is done as per income tax
act.Reverse is thae case of deferred tax asset.
| Is This Answer Correct ? | 28 Yes | 6 No |
Answer / manish
Deferred Taxes arises due to temporary difference that
arises between profits under tax books and profits under
accounting books. They can either be as asset or a
liability.
A deferred tax asset arises when the tax paid as per tax
laws id more when compared to the tax charged in the books
of accounts. This is because the company would be able to
offset its future tax obligations since they have paid more
in the current period.
Vice versa a deferred tax liability arises when the tax
paid under the tax laws is lower when compared to the tax
charged in the accounting books. The company would be
having an obligations of paying more taxes in coming years
in this case.
| Is This Answer Correct ? | 17 Yes | 2 No |
Answer / anupama
defered tax means temporary differences b\w the amounts as
per account books and as per tax books arises defered tax
defered tax assets means if the amount as per account books
less than as per tax books that is called defered tax assets
defered tax liabilities means if the amounts as per account
books is more than the tax books is called defered tax
liabilities.
| Is This Answer Correct ? | 15 Yes | 4 No |
Under the SORP, do you have to disclose fees received by a trustee for a professional service even if you have a charging clause in the Governing Document?
What Do You Understand By The Word Accounting
7 Answers ADP, College School Exams Tests,
how to reduce axis bank emi
what is joint venture?
Expand G O I
what are the models of valuation of the company
can u explain good will and calculation methods
what is the meaning of preliminary expenses and how you shown in balance sheet
50 Answers Banking, BPL, CA, Capital IQ, Chartered Accountant, First Midwest Bank, GE, Glass Wall Systems, Ocwen, Siemens,
what is cash in flow and cash out flow?
Q13. Journalise the following transactions: Proprietor withdrew for private use Rs.4000/- from bank and 6000/- cash. Goods Costing Rs.5000 was burnt by fire. Purchase Machinery for cash Rs.150000/- and paid Rs.2000/- on its Installation. Charge 5% Depreciation on building costing Rs.200000/- and 8% Depreciation on Furniture costing Rs.5000/-. Prepaid Salary Rs2000/- Kapil who owed us Rs20000/- become insolvent and nothing is received from his estate.
Answered but misspelled pl correct ACCOUNTIN EQUATION =ASSETS-LIABILITIES= (ANS.SRENOWYTIUEQ)
why you would like to work for the our(AIRLINE) Group ???
Audit 
