Items related to defferd tax

[Guest]

Dear Experts

                    I want to know that what are the items which are related to deferred tax liability and deferred tax assets..

Vikram singh

[CAGOPALJI AGRAWAL]

The items which rise to difference in book income and taxable income and are reversible in the next period like difference in depreciation. section 43B additions, carry forward losses.

[Guest]

Thank you sir...

AI Summary

Deferred tax arises from reversible timing differences such as depreciation, disallowed tax additions, and carryforward losses. Deferred tax arises from reversible timing differences between accounting profit and taxable income. Principal items creating deferred tax assets or liabilities include differences in depreciation, tax additions disallowed for immediate deduction, and carryforward losses that will affect taxable income in future periods.