Any income which is earned in the current financial year
(2009-10) but received in the assessment year(2010-11) wil
be taxable in the current financial year or not?
Answers were Sorted based on User's Feedback
Answer / suman.g
Current Financial year is 2009-10
Relevant assessment year is 2010-11
So income is earned and received in the same year and will be taxable in the current financial year 2009-10.
Even if the income is received in the Financial year 2010-11, it will be taxable in the Financial year 2009-10, since books will be generally maintained on accrual basis.
Is This Answer Correct ? | 5 Yes | 0 No |
Answer / joginder singh
Every income which is earned in the current financial year
(2009-10 is taxable.
Is This Answer Correct ? | 1 Yes | 0 No |
Answer / vijay
Current Financial year is 2009-10
Relevant assessment year is 2010-11
So income is earned and received in the same year and will
be taxable in the current financial year 2009-10.
Even if the income is received in the Financial year
2010-11, it will be taxable in the Financial year 2009-10,
since books will be generally maintained on accrual basis.
Is This Answer Correct ? | 0 Yes | 0 No |
saji become insolvant -what is journal entry
when we have to use form 12ba in income tax with example
I post Optional Voucher in Tally.ERP in which there is deduction of TDS is applied. But when I convert this voucher as regular voucher the TDS entry have to make again why so
what is the reason for finding break even point
How many questions u have done in ur written exam held in november for SBI clerical??? who are cleared for the interview..plz tell me...???
meaning of capital
what is MD050
Hello Friends, I am Vinod Rawat & want some tips of interview question for the post of accountant in a reputed company Pls. Given Examples.
What is the entry for provision?
what is TDS what percentage its calculated
What is Double Entry System ?
What is 3/3 in Procure to pay (p2p) in Accounts Payable?