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Deferred Tax
04-06-2010, 06:11 PM
Post: #1
Deferred Tax
Hellow All!

I am Umar, PIPFA (fINALIST), I WANT TO ASK ABOUT DEFERRED TAX WORKING EXAMPLES, PLEASE PROVIDE ME THE SAME I REQUIRED FOR CLEARING MY CONCEPT.

THANKS.

MUHAMMAD UMAR
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04-10-2010, 08:45 PM
Post: #2
 
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by umar_khi08@yahoo.com</i>
<br />Hellow All!

I am Umar, PIPFA (fINALIST), I WANT TO ASK ABOUT DEFERRED TAX WORKING EXAMPLES, PLEASE PROVIDE ME THE SAME I REQUIRED FOR CLEARING MY CONCEPT.

THANKS.

MUHAMMAD UMAR
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">

General Journal Aur Bank Payment Voucher


__________________________________________________________

<font color="blue"><b> M/s ABC Company (Dr) 50,000
Income Tax Payable U/s 153 (Cr) 1,750
By Meezan Bank Ltd (Cr) 48,250</b></font id="blue">
__________________________________________________________

This Withheld I/Tax Amount Must be Deposited in Govt Treasury with in a Week as per the following entry

__________________________________________________________
<font color="blue"><b>Income Tax Payable U/s 153 (Dr) 1,750
National Bank Of Pak (Cr) 1,750</b></font id="blue">
__________________________________________________________


Mr. Umar
I Hope U Will Fully Understand.I will Glad to see any reply from u.
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04-13-2010, 07:38 PM
Post: #3
 
Sorry to say dear, the above enteries are for withholding tax not for deferred tax.


Regards,

*
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04-13-2010, 08:01 PM
Post: #4
 
Star you are right
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04-14-2010, 04:46 AM
Post: #5
 
Star

You got the certification!


Regards,
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04-14-2010, 04:52 AM
Post: #6
 
i dont why kamran direclty or indirectly attack on awaisaftab... why?? what is the reason behind this??
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04-14-2010, 02:21 PM
Post: #7
 
Umar,

Deferred tax is an extensive topic, i think you need to study IAS-12 first and then discuss your queries here which would be replied.

However, for quick understanding, please follow this link you will find a presentation of "Deferred Tax" by Ms. Tahmeen Ahemd and would be helpful for you.

http//www.icap.org.pk/web/links/0/smpworkshops.php

Regards,

*
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04-14-2010, 04:15 PM
Post: #8
 
Ali Raza

I only appreciated the achievement of Star.

It's not an attack.

Regards,


KAMRAN.
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04-20-2010, 04:20 AM
Post: #9
 
In my Opinion for the proper application and understanding of deferred taxation one should go through section 21 namely deductions not allowed of the Income tax ordinance as it will let u know at what items the difference between the accounting and tax base could arise......
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04-20-2010, 01:50 PM
Post: #10
 
Thanx STAR,

From your best support by link of ICAP. Alhumdulillah my concept approx. clear.
thanx for all buddy for support and provide best knowledge.
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04-20-2010, 03:15 PM
Post: #11
 
Although at professional level the study of IAS/IFRS is highly recomended but in my opinion Intermediate Accounting is also a good book for making concept regarding deferred tax.

Regards,

Awais Aftab
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