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    Why IAS 12 is referred to as balance Sheet View & under Indian GAAP it is called P/L view?

    Asked By Indranil Ray


    • there is conceptual difference between IAS 12 and AS 22, the IAS 12 is based on the balance sheet liability method whereas AS 22 is based on the income statement liability method.

      as per AS 22 tghe deferred tax is the tax effect of timing difference between accounting profit and taxable profit whereas as per IAS 12 the deferred tax is the tax effect of difference between tax base of an asset or liability and balance sheet value of that asset or liability

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