Dear All,
iS THERE ANY DIFFERENCE BETWEEN TAX RECEIVABLE AND TAX RECOVERABLE? i WAS ASKED THIS QUESTION AT AN INTERVIEW. WAS THE INTERVIEWER FOOLING AROUND 
WITH ME OR IS THERE REALLY ANY SUCH DIFFERENCE?
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Tax terminology doubt- diff bw tax receivable and recoverabl
Replies (1)
Yes ther's a difference between the two.
Tax Receivable means the excess tax paid by the assessee is receivable by him by way of refund from the I-T Dept.
Tax Recoverable means if there is any tax due by the assessee to teh I-T Dept then the same is recoverable by the dept from the assessee.
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