Answer Posted / 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.

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