Difference between
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 July 2015
what is difference between Timing difference and permanent difference please give example also. while computing tax
Nikhil Kaushik
(Expert)
23 July 2015
timing difference happens when a particular expense is permitted in income tax in one financial year and in books of accounts in another financial year...for eg: depreciation..because of difference in depreciation rates, there are variation but at the end of the day whole of the deprecation is allowed. so its a timing difference
where as some expenses/income may be allowed in income tax and not allowed at all in books of accounts or vice-versa. such differences are permanent difference. this could difference like dividend incomes that are exempt in income-tax but included in incomes in profit & loss account.
where as some expenses/income may be allowed in income tax and not allowed at all in books of accounts or vice-versa. such differences are permanent difference. this could difference like dividend incomes that are exempt in income-tax but included in incomes in profit & loss account.
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