Accounting Standards For Income Taxes Between India And China: A Comparative Study

With rapid growth of global economy, china and India, two neighboring countries, will play an important part in economic development of the world, forming most comparable examples for research at present. The kernel question of the income taxes accounting research is how to select and apply the different method. So far, seen from the whole world, there is not a unified standard about the question. India and china both adopt debt method into effect. On the practice of debt method, India put debt method of income statement. China adopts the debt method of balance sheet.Through discoursing fundamental theories of income tax accounting, this article elaborates the prime notions of income tax accounting in china and India for the next academic investigation. In the base of comparison and understanding about income tax act between India and china, this article is meant to compare and analyze accounting for income taxes standards of the two countries.This article will investigate a lot of question about the field of income taxes accounting by the theory and the contrast analysis. Comparing the income tax accounting of enterprises of both countries will strengthen the understanding between the theories and practices, in order to better apply accounting, a universal commercial language, to the gradual enhanced bilateral business.