Deferred Tax
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04-06-2010, 06:11 PM
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
04-10-2010, 08:45 PM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by [email protected]</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.
04-13-2010, 07:38 PM
Sorry to say dear, the above enteries are for withholding tax not for deferred tax.
Regards, *
04-13-2010, 08:01 PM
Star you are right
04-14-2010, 04:52 AM
i dont why kamran direclty or indirectly attack on awaisaftab... why?? what is the reason behind this??
04-14-2010, 02:21 PM
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, *
04-14-2010, 04:15 PM
Ali Raza
I only appreciated the achievement of Star. It's not an attack. Regards, KAMRAN.
04-20-2010, 04:20 AM
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......
04-20-2010, 01:50 PM
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.
04-20-2010, 03:15 PM
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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