Deferred tax liability is a term that is frequently used in the world of finance and accounting. It is a concept of tax planning that arises from differences between accounting methods used for financial reporting and the way taxes are levited from businesses by tax authorities. These differences could lead to discrepancies in the income tax expense reported in the income statement and the actual amount of tax owed to the tax department, thus creating a deferred tax liability. Through this article, we will explore the details of deferred tax…
What is Deferred Tax Liability? A Comprehensive Guide
