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Deferred Taxation in Accounting: Recognition and Implications

Explore the mandatory recognition of deferred taxation, tax losses, and implications for income tax deferment and tax holidays. Discuss the nuances of deferred tax in amalgamations and the impact on financial statements.

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Deferred Taxation in Accounting: Recognition and Implications

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  1. ACCOUNTING FOR TAXES ON INCOMEJune 20, 2008

  2. AGENDA

  3. THE OLD STORY Contd…..

  4. THE OLD STORY ….contd

  5. DEFERRED TAXATION: MANDATORY RECOGNITION? Contd…..

  6. DEFERRED TAXATION: MANDATORY RECOGNITION? Contd… Contd…..

  7. DEFERRED TAXATION: MANDATORY RECOGNITION? Contd...

  8. LOSSES AND DEFERRED TAXATION a judgmental call Contd…..

  9. LOSSES AND DEFERRED TAXATION….contd a judgmental call PRACTICALLY TOO RESTRICTIVE AT THE TIME OF REVERSAL, DTL WOULD LEAD TO TAXABLE INCOME

  10. DEFERRED TAXATION AND TAX HOLIDAYS Contd…..

  11. DEFERRED TAXATION AND TAX HOLIDAYS contd… DIFFERENCES WHICH ORIGINATE FIRST ARE CONSIDERED TO REVERSE FIRST

  12. TAX LOSSES: “CAPITAL GAINS” PRACTICALLY TOO RESTRICTIVE Contd…..

  13. TAX LOSSES: “CAPITAL GAINS” contd….

  14. DEFERRED TAX AND MAT Contd…..

  15. DEFERRED TAX AND MAT contd… WHY NOT USE MAT RATE?

  16. DEFERRED TAX AND AMALGAMATIONS Contd…..

  17. DEFERRED TAX AND AMALGAMATIONS contd… Contd….. INCOME STATEMENT APPROACH

  18. DEFERRED TAX AND AMALGAMATIONS contd… When DTA not recognized by transferor ASSUMPTION: BENEFIT OF DTA IS IN BUILT IN PURCHASE CONSIDERATION Contd…..

  19. DEFERRED TAX AND AMALGAMATIONS contd… When DTA not recognized by transferor ASSUMPTION: BENEFIT OF DTA IS IN BUILT IN PURCHASE CONSIDERATION Contd…..

  20. DEFERRED TAX AND AMALGAMATIONS contd… When DTA not recognized by transferor ASSUMPTION: MERGED ENTITIES CONTINUING SINCE BEGINNING

  21. INCOME STATEMENT Vs. BALANCE SHEET APPROACH

  22. MEASUREMENT Contd…..

  23. MEASUREMENT contd….

  24. DISCLOSURES Contd…..

  25. DISCLOSURES contd…

  26. INTERNATIONAL GAAP IFRS/US: BALANCE SHEET APPROACH INDIA: INCOME STATEMENT APPROACH Contd…..

  27. INTERNATIONAL GAAP contd…

  28. AGENDA

  29. THANK YOU FOR YOUR KIND ATTENTION

  30. PRESENTOR: Kaushal Kishore EMAIL: kaushalkishore@kpmg.com PHONE: +91 9811103133

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