Question:

What is the meaning of retained taxes?

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What is the meaning of retained taxes?

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  1. It may be Deferred tax ie, some portion of the profit is  appropriated to deferred tax a/c shown  in Corporate balance sheet for the liability of future tax which may demand by the department of Income Tax


  2. taxes, which are due to be paid to the goverment but still not paid so far for any reason.

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