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What are allowable deductions?


I want to know what allowable deductions are in simple terms. I know its included in calculating taxable income

asked Oct 5 in General Accounting Discussion by MOSES

1 Answer

0 votes
Calculating taxable income has little to do with accounting rules. Tax rules are quite different from accounting rules and and they often differ from one country to another. You should check out your country's tax statue for rules of arriving at the taxable profit.
answered Oct 5 by Janu


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