09 August 2012
Please Read With AS-22, You Will Get Benefited. In Short - Difference Between Accouting Income & Taxation Income - That We are Going to Pay/Receive from Income Tax Department is Liability/Asset Respectively.
10 August 2012
The Word "Book Profit" is Not to Be Used... Here Difference Between Accounting Income & IT Income. Book Profit Word Used for sec 115JB Only in Income Tax Act. Book Profit is Defined in Sec 115JB. But in AS-22, No Where Word Book Profit is Used.
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