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Income Tax Expert Interview Question:
Please explain when Deferred Tax Asset & Deferred tax liability arises?
Submitted by: MuhammadDeferred tax asset arises when the expenses are recorded in the income statement before they are required to be recognized by the taxing authority. Also when revenue is being taxed before it is taxable in the income statement.
Deferred tax liability arises from different depreciation methods being used for tax as depreciable assets are reported as non current.
Submitted by: Muhammad
Deferred tax liability arises from different depreciation methods being used for tax as depreciable assets are reported as non current.
Submitted by: Muhammad
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