New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    __________ guides how to account for taxes on

    income.
    A AS 6 Correct Answer Incorrect Answer
    B AS 12 Correct Answer Incorrect Answer
    C AS 29 Correct Answer Incorrect Answer
    D AS 22 Correct Answer Incorrect Answer

    Solution

    AS 22 guides how to account for taxes on income. AS 22, titled "Accounting for Taxes on Income," is an Accounting Standard issued by the Institute of Chartered Accountants of India (ICAI). This standard provides guidance on the recognition, measurement, and disclosure of taxes on income in the financial statements of an entity. It deals with both current and deferred taxes and ensures that income tax accounting is done in a consistent and appropriate manner.

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