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Deferred tax is an accounting concept, meaning a future tax liability or asset, resulting from temporary differences between book (accounting) value of assets and liabilities and their tax value, or timing differences between the recognition of gains and losses in financial statements and their recognition in a tax computation
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What is deferred tax?
Deffered Tax is the amount the payment of which you delayed to pay in future. There are many reasons for deffered taxation. There are so many expanses and incomes which are not allowed by taxation department of Government but we enter as income and expenses in our financial statements because in accounting they are allowed as income or expense and that's why in the end the net income calculated by company and tax department is rearely reconsile due to problems mentioned above and due to that tax calculated by company is different the tax calculated by tax departments that's why deffered taxation is use to adjust tax between entity and tax department.
Is deffered tax liability your current liability?
yes
Do you have to use the same depreciation for accounting and tax?
Tax department has developed theire own depreciation schedules for different assets class and use their own depreciations rather than using accounting depreciation and due to this accounting depreciation difference there is also difference in tax we pay and tax we calculate and called "Deffered Taxation"
Payments of expenses that will benefit more than one accounting period are identified as?
deffered revenue expenditure
Accounting entry for deferred revenue expenditure?
P&L A/C......Dr To Deffered revenue Expendature A/C
What is defering?
Deffered Tax is the amount the payment of which you delayed to pay in future. There are many reasons for deffered taxation. There are so many expanses and incomes which are not allowed by taxation department of Government but we enter as income and expenses in our financial statements because in accounting they are allowed as income or expense and that's why in the end the net income calculated by company and tax department is rearely reconsile due to problems mentioned above and due to that tax calculated by company is different the tax calculated by tax departments that's why deffered taxation is use to adjust tax between entity and tax department.
What is deferred tax?
Deffered Tax is the amount the payment of which you delayed to pay in future. There are many reasons for deffered taxation. There are so many expanses and incomes which are not allowed by taxation department of Government but we enter as income and expenses in our financial statements because in accounting they are allowed as income or expense and that's why in the end the net income calculated by company and tax department is rearely reconsile due to problems mentioned above and due to that tax calculated by company is different the tax calculated by tax departments that's why deffered taxation is use to adjust tax between entity and tax department.
What is preliminary expenses in final accounts?
It is deffered cost
Is deffered tax liability your current liability?
yes
Who impose the ceiling in tax deffered in annuity?
IRS
What did john Lewis mean by dream deffered?
dream that is put off or unrealized
What rules are followed on a deffered adjudification?
These programs vary by county. Its impossible to say
Do you have to use the same depreciation for accounting and tax?
Tax department has developed theire own depreciation schedules for different assets class and use their own depreciations rather than using accounting depreciation and due to this accounting depreciation difference there is also difference in tax we pay and tax we calculate and called "Deffered Taxation"
How do you pronounce the word deffered?
The word "deferred" is pronounced as duh-furd.
Can preliminary expenses be included in deferred revenue expenditure?
yes it is a part of deffered revenue exp
What is the meaning of deffered income?
When you have earned income but will get paid in the future rather than upon earning it.
Payments of expenses that will benefit more than one accounting period are identified as?
deffered revenue expenditure
