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There are 2 types of differences between Profit as per books(tally) and Taxable Profit
Timing Difference (TD)
Permanent Difference(PD)
| Timing Difference | Permanent Difference |
| These adjust in future | These do no adjust in future |
| We make DTA/DTL for the same | We do not make DTA /DTL |
| Example | Example |
| Difference in Depreciation rates as per Companies ACT AND income Tax | 1. Illegal Expense Disallowed |
|
2 Section 40(A) 30% Of Expense On Which Tds Not Deposited Allowed In Year When Actually Deposited) |
2. Personal Expenses Disallowed |
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3. Section 43B Interest On Bank Loan/Bonus/Pf Not Paid Till Return Filing Date 30 Sept,If Paid After 30 Sept,Allowed Next Year |
