1.

What Is The Entry For Deferred Tax Liability According To As22?

Answer»

DEFERRED tax ASSETS and liabilities should be distinguished from assets and liabilities representing CURRENT tax for the period. Deferred tax assets and liabilities should be disclosed under a separate heading in the balance SHEET of the enterprise, separately from current assets and current liabilities.
The break-up of deferred tax assets and deferred tax liabilities into major components of the RESPECTIVE balances should be disclosed in the notes to accounts.

Deferred tax assets and liabilities should be distinguished from assets and liabilities representing current tax for the period. Deferred tax assets and liabilities should be disclosed under a separate heading in the balance sheet of the enterprise, separately from current assets and current liabilities.
The break-up of deferred tax assets and deferred tax liabilities into major components of the respective balances should be disclosed in the notes to accounts.


Discussion

No Comment Found

Related InterviewSolutions