Differed tax query

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Ushanjali.Kotyala

Ushanjali.Kotyala (Querist)
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11 July 2013 Can u please tell me diferrence between TIMING DIFFERENCE and PERMENANT DIFFERENCE with a detailed example

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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11 July 2013 Timing difference is the difference can be adjusted in next financial year like Depreciation difference due to rates under companies act and Income tax acts are different. this amount may be differ in a particular year, how ever can be recovered in future

Permanent difference: The difference cannot be adjusted in the further financial year. like disallowance u/s.40A(3) payment by cash more than Rs.20000/- will be disallowed permanently in Income tax.

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Ushanjali.Kotyala

Ushanjali.Kotyala (Querist)
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12 July 2013 Thank u sir

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