GuestTemporary Differences
Source: Ind AS 12 (summary)
Deferred tax arises from temporary differences, which are differences between the carrying amount of an asset or liability and its tax base. It is measured at the tax rates expected to apply when the asset is realised or the liability is settled, using rates enacted or substantively enacted by the reporting date.
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About Accounting
Accounting principles in short, plain-language summaries: double entry, accrual, going concern and prudence, then Ind AS topics such as inventories, cash flows, events after the reporting period, income taxes, property, plant and equipment, employee benefits, government grants and foreign currency.