Like Revaluation surplus Accounting records gain of fair valuation but taxation says it will taxable in future only in case of actual gain Taxable in future Record deferred tax liability for difference amount equivalent to revaluation gain.
Future deduction means that in coming years this expense will be admissible to be deducted while calculating taxable profits Due to this taxable profits will decrease and tax expense will decrease Therefore it is recorded as Deferred tax Asset
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Defffered tax liability ka bhi example hota to best hota, aap verbally hi DTA or DTL ke example de dete
For DTL separate video is there: ua-cam.com/video/h5xbgWrIlAs/v-deo.html
High chances that people can get confuse if DTA and DTL are studied together.
Like Revaluation surplus
Accounting records gain of fair valuation but taxation says it will taxable in future
only in case of actual gain
Taxable in future
Record deferred tax liability for difference amount equivalent to revaluation gain.
All clear maim and thanks
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Awsome explation😊
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Wah Great Dedi.
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Amazing video very much knowledgeable 👍
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Mam, what does mean future deductions in this equation for DTA?
Tax base = Future deductions for tax purposes
Please explain "future deductions."
Future deduction means that in coming years this expense will be admissible to be deducted while calculating taxable profits
Due to this taxable profits will decrease and tax expense will decrease
Therefore it is recorded as Deferred tax Asset
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It's very good explanation
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Learn all IFRS and Ind AS in detail with examples
Helpful
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Mam, Defffered tax firm or proprietorship me bhi book hota hai ya sirf corporate me
Sirf corporates m recorded krna hota h deferred tax
Truely helpfull.
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good one
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Very helpful
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THANKS SWATI MAM. WHY WE ARE MAINTING BOOKS AS PER ACCOUNTING STANDARD. CAN WE MAINTAIN BOOKS AS PER TAXATION. THAN NO NEED FOR DEFFERED TAX.
We have to apply accounting standards in case of companies. For sole proprietorship we can simply prepare FS as per tax rule only
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