What is a deferred tax liability and why might one be created?
What is a deferred tax liability and why might one be created?
In simple words Deferred Tax liability is a provision for future taxation. It is different from provision for tax which is basically a provision for current taxation. Deferred Tax liability/Asset arises due to difference between Profit as per Profit & Loss Account (Books) & Income Tax(Taxable Income)
You can refer As -22 for further details.
