22 May 2013
Under AS If the loss is not allowable by taxation authorities in the same year, then it is a timing difference since the same will be allowed later when asset will be sold.
Under IFRS If the Tax Base is different from Accounts Base, it is a timing difference.
22 May 2013
Under AS If the loss is not allowable by taxation authorities in the same year, then it is a timing difference since the same will be allowed later when asset will be sold.
Under IFRS If the Tax Base is different from Accounts Base, it is a timing difference.
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