As Thomas A Edison once said I have not failed I have found 10000 ways that won’t work. What is failure? Dictionary defines failure as a state of not meeting desirable or intended objective. If we try to understand this meaning we can draw a conclusion that the result of our effort was not as per our defined objective.
Background- There are differences in profit calculated by a business entity in its books and income calculated as per income tax act. We pay tax as per income calculated as per income tax act. There are 2 types of differences- 1) Permanent differences These are differences between our accounting income and taxable income that originate […]
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