Hey friend,
Dutiful payment of Income-tax amongst other taxes is a requirement set by the Government of India. If you don’t pay your taxes, you might be subjected to legal actions and criminal prosecution. To make sure, this doesn't happen, you need to know information about taxes. Take a look below to know what is deferred tax liability. The explanation will clear all your doubts.
What is deferred income tax liability?Deferred income tax liability can be referred to as a balance sheet or listing maintained by companies or organisations wherein the record of taxes that are owed is written. These charges are not due to be paid until the payment date.
It is known as deferred tax liability because there is a difference in the period between the point when tax was charged or accrued and when the taxes are due to be paid. It exists cause of the difference between book income & taxable income.
Now that you know what is deferred tax liability, you should know how to calculate it.
The difference between the company's taxable income and its account earnings before taxes is taken and then, it is multiplied by its expected tax rate. The amount reached in the end will be paid in the future and is based on an anticipated or indicative variable.
This is all from my end on what is deferred tax liability. Hope your query has been solved.
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What is deferred tax liability ?
Urvashi
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2022-03-29T21:30:39+00:00 2022-03-29T21:30:40+00:00Comment
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