General Studies · Corporate Taxation Accounting
Which of the following items does NOT result in a temporary timing difference and therefore does NOT form part of a deferred tax asset or deferred tax liability?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Unutilized minimum alternate tax credits carried forward
- 2Statutory government penalties and fines disallowed permanently as tax expenses✓
- 3Unabsorbed business tax losses carried forward for future set-off
- 4Differences in depreciation methods between accounting and tax books
Correct answer
Statutory government penalties and fines disallowed permanently as tax expenses
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