Water park membership fees are recognized as income from the year the business started operating.

Accrual of income - Receipt on account of membership fees - giving the services of the water park to its members - The amount of membership fees would be considered as income from the year the business of the assessee commenced - HC .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X