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What is the method of accounting in OTHER SOURCES

Sushmita Chowdhury

Sushmita Chowdhury

CA Inter

★ 2K+

14-Aug-24 06:32

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Answers (4)

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Thread Starter

Sushmita Chowdhury

Sushmita Chowdhury

CA Inter

★ 2K+

14-Aug-24 11:10

Mercantile or cash whatever assessee follows. However, in case of some incomes such as interest on compensation is taxable on receipt basis only.

Shiva Teja

Shiva Teja

Faculty

14-Aug-24 18:06

Shiva Teja Faculty

Mercantile or cash whatever assessee follows. However, in case of some incomes such as interest on compensation is taxable on receipt basis only.

Assessee can change its method of accounting each year ?

Thread Starter

Sushmita Chowdhury

Sushmita Chowdhury

CA Inter

★ 2K+

14-Aug-24 19:08

Yes

Shiva Teja

Shiva Teja

Faculty

14-Aug-24 19:10

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