Accounting
This query is : Resolved
ASHISH KUMAR
(Querist)
29 November 2015
what is the meaning of accounting income and taxable income?
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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