Tag: cash basis
ICAI Guidance Note on Accrual basis of accounting 2021. The importance of Accrual basis of accounting assumes importance as one of the fundamental accounting assumption for preparing and presenting the financial statement is ‘Accrual’. The Institute of Chartered Accountants of India (ICAI) through its Research Committee has issued …
TDS deposited before filing ITR is allowable u/s 43B despite assessee following cash method of accounting ABCAUS Case Law Citation:ABCAUS 3249 (2020) (02) ITAT Important case law relied upon by the parties:Associated Law Advisers Vs. ACITCommissioner of Income Tax XIII Vs. Naresh KumarCommissioner of Income Tax Vs. Rajinder …
TDS payable as at year end is allowable expenditure in cash basis of accounting. it can not be said that the above sum had not been paid by the assessee ABCAUS Case Law Citation:ABCAUS 3152 (2019) (09) ITAT In the instant case, an appeal was filed by the …
TDS credit on conflict of cash and accrual accounting. ITAT following High Court allowed proportionate TDS when TDS only was offered to tax The appellant assessee had filed the instant appeal contesting the order of the Commissioner of Income-Tax (Appeals) confirming inter alia the TDS credit restricted by …