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Accounting

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(Querist)
29 November 2015 what is the meaning of accounting income and taxable income?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
29 November 2015 often there is a difference between the accounting policies of an enterprise and the tax laws. This result in two different sets of income-tax statements. The income computed as per tax law is considered as taxable income. whereas income as per accounting policies of the enterprise is considered as accounting income
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