All of the following are calculated on Form 990-PF, EXCEPT:    Excise tax on investment income.  Qualifying distributions made to accomplish an exempt purpose.  Undistributed income.  Unrelated business income tax.

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Deferred Tax

Deferred tax is an estimated future tax which is made while preparing accounts. It is estimated as a result of past and present transactions in the financial statements. It is not the actual tax which needs to be paid or refundable from the revenue authority, it is an accounting entry. It exists because of the difference between accounting profits and taxable profits.