1. Explain in your words what is the meaning of deferred tax asset or deferred tax liability and mention the value of net deferred tax asset / liability in your company for the years 2021 and 2020

Sr. No.	Particulars	2021	2020	*Ref No. (Note No & page no )	Marks
1	Income tax Expenses	(626,697)	(203,099)	19	2 marks
2	Deferred Tax Assets	365,551	643,104	19	4 marks
3	Deferred Tax Liability	00	301,438	19	4 marks

extra info:

The income tax is made up of amounts that have been recognized by the subsidiaries. The following are the primary components of the income tax expense for the year as reported in the consolidated statement of profit or loss:

Income tax expenses for 2020 QR is (203,099) & 2021 is (626,697) QR.

(Ref No 19 Pg#148; Deferred Tax Assets)

A deferred tax asset is a balance sheet item that reduces a company's future taxable revenue. When a company overpays its taxes, a line item asset can be discovered. This money will be returned to the company in the form of tax relief in the future.

Deferred Tax Assets for 2020 QR 643,104 & for 2021 is 365,551 QR.