when Deferred Tax Asset & Deferred tax liability arises?
Answer Posted / minnu
Deffered tax liability means currently you are paying less
amount of tax as per IT but in future you have to pay more
so for this timing difference we have to create a deffered
tax liability in our books of accounts accoding to the
virtual certainty that in future company will earn
sufficient proft to recover it.
for deffererd tax liability the entry will be
Profit & loss a\c dr
To Deffered tax liability
Is This Answer Correct ? | 6 Yes | 0 No |
Post New Answer View All Answers
What do you find the most challenging in Accpuntant role
what are procedure we need to do at the time ACTO VISIT FOR AUDIT OF VAT .
Explain the importance of internal audit to the organization?
Explain different functions of internal audit?
central excise all question
What sort of image do you have?
What is statutory audit?
How does the internal audit differ from an external audit?
What techniques used during an audit?
vat on liquor vat on food ? vat on bevrages ? vat on tobaco? vat on gold?
for how much loan a borrower has to submit QIS
What to do after the audit?
hi friend i have selected in ssc cgle as accountant in audit department. can anyone tell about the work of accountant in audit department?
What does an internal audit charter contain?
What are the reasons for getting audited?