alleryStart learning →Tax expense (tax income) in Ind AS 12 comprises:
AOnly current tax paid
BCurrent plus deferred tax
COnly deferred tax set up
DAdvance tax plus TDS
Answer & Solution
Correct answer: B. Current plus deferred tax
The standard defines tax expense as the sum of current tax expense and deferred tax expense.
Keep practising Ind AS 12 Income Taxes
Browse all Ind AS 12 Income Taxes questions for CA Final, or explore more Financialreporting topics.
Related questions
Deferred tax accounting is relevant to which accounting principle?A permanent difference in accounting versus tax treatment gives rise to:Tax-related contingent liabilities, such as disputes with tax authorities, follow:An entity's accounting profit is Rs. 2,500 and the domestic rate is 30%. Tax at the domestThe average effective tax rate equals tax expense divided by:What can make tax expense differ from profit times the rate?A deferred tax asset reliant on future profits needs evidence disclosure when the entity hFor unrecognised subsidiary-investment liabilities, disclose the: