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Income Tax - Highlights / Catch Notes

Home Highlights June 2011 Year 2011 This

Mercantile system, Advance receipt of Fees, Service to be ...


High Court Rules: Advance Receipts Not Taxable Until Services Rendered, Aligned with ICAI Accounting Standard 9.

June 20, 2011

Case Laws     Income Tax     HC

Mercantile system, Advance receipt of Fees, Service to be rendered in next year, Tax cannot be levied in the year of receipt, get support from AS 9 of ICAI, HC

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