Why Some Expenses Are Allowed Only On A Payment Basis Under Accrual Accounting

Raj Jaggipro badge , Last updated: 03 January 2026  
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1. Accounting Profit vs Taxable Income - Judicial Recognition of the Divide One of the most fundamental yet frequently misunderstood principles of income taxation is that profit as per the books of account is not necessarily equivalent to taxable income. While commercial accounting aims to evaluate

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Raj Jaggi
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Category Income Tax   Report

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