Ind AS 12

Deferred Tax Liabilities Deferred Tax Liabilities Deferred tax liabilities refer to the income taxes that companies need to pay at a future date, but are calculated and recorded in their...

Ind AS Accounting Standards Ind AS (Indian Accounting Standards) are a set of accounting standards developed by the Institute of Chartered Accountants of India (ICAI) and adopted by companies in...

Ind AS 12 – Income Taxes - Introduction  Balance sheet approach Ind AS 12, as the name suggests, prescribes the accounting treatment for income taxes. Under the accounting standards, the...

Current Tax & Deferred Tax – Ind AS 12 Current Tax Current tax, to the extent unpaid, should be recognised as a liability. If the amount already paid exceeds the...

Business Combination – Context of Ind AS 12 General Generally, the identifiable assets acquired, and liabilities assumed in a business combination are recognised at their fair values at the acquisition...

Initial recognition of an asset or liability – Ind AS 12 General A temporary difference may arise on initial recognition of an asset or liability, for example if part or...

Measurement of deferred tax assets and liabilities - Ind AS 12 General Deferred tax assets and liabilities shall be measured at the tax rates that are expected to apply to...

Presentation & Disclosure – Ind AS 12 Presentation Tax assets and tax liabilities Offset An entity shall offset current tax assets and current tax liabilities if, and only if, the...

Changes in the Tax Status of an Entity or its Shareholders - Ind AS 12 Issue A change in the tax status of an entity or of its shareholders may...

Uncertainty over Income Tax Treatments - Ind AS 12 Issue It may be unclear how tax law applies to a particular transaction or circumstance. The acceptability of a particular tax...