Balancing allowance and Tax entry

Dear sir, 1. We make the following entry at financial year end: Dr. Income tax expense Cr. Deferred tax payable Cr. Current tax payable 2. We make the following entry for Capital allowance for tax purposes at financial year end: Dr. Capital allowance Cr. Accumulated capital allowance 3. If there is Balancing allowance on disposal of an asset, then the entry will be: Dr. Accumulated capital allowance Dr. Balancing allowance Cr. Asset Cr. Cash Please check and let me know if I need any correction. Thanks,