Read the following passage and answer the following question.

The following items are given in the company statements- 
Loose tools-  ₹1,20,000
Goods in transit-  ₹5,00,000
Prepaid expenses-  ₹15,000
Interest accrued on investments - ₹10,000
Deferred Tax assets- ₹2,00,000

In which head Deferred tax asset is shown in the balance sheet of the company?

Non-current assets

The correct answer is option 2 - Non-current assets.

Deferred tax asset is shown under the head non current asset in the balance sheet of the company.

The asset side of balance sheet format of a company is as follows-

1) Non-Current Assets

• (a) Fixed assets
         (i) Tangible assets
         (ii) Intangible assets
         (iii) Capital work-in-progress
         (iv) Intangible assets under development
• (b) Non-current investments 
• (c) Deferred tax assets (net)
• (d) Long-term loans and advances
• (e) Other non-current assets

2) Current Assets

• (a) Current investments
• (b) Inventories
• (c) Trade receivables
• (d) Cash and cash equivalents
• (e) Short-term loans and advances
• (f) Other current assets