Hai,
Can any one give me a brief explanation on AS-22....Pls reply
2 Replies
S.Srinivasaraghavan
(Chief Financial Officer and Co)
(11318 Points)
Replied 16 July 2008
| Originally posted by :Dhanya Sreedhar | ||
| " | Hai, Can any one give me a brief explanation on AS-22....Pls reply |
" |
pAS-22 Prescribes accounting treatment for taxes on income in accordance with the matching concept:
n
Matching concept is matching of taxes with the corresponding revenue and expenses since taxable income significantly varies with the accounting income
p
Reasons
nDifference between items of Revenue and expense as per profit & Loss account and those considered for tax purpose
nDifference between the amount of the items of Revenue and expenses as per profit and loss account and those considered for tax purpose
Satyendra sahu
(service)
(216 Points)
Replied 17 July 2008
Hi ,
I am completly agree with Srinivasraghavan.
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