Income Taxes AS 12

Question 1

Deferred Tax?

Answer 1

Being future tax consequences that arises due to future
recovery of carrying amount of assets
settlement of carrying amount of liabilities
Recovery of fixed assets means by way of depreciation or sale and for other assets by way of realization

Question 2

Exceptions to current or deferred tax

Answer 2

DT or CT pertaining to other comprehensive income/direct equity should be recognized in other income/direct equity