banner_ad

Accounts on cash basis

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
12 February 2013 Can a person make his books of accounts on cash basis for income tax calculation & make payment of tax on that basis
Profile Image

CA Suraj Lakhotia

Profile Image

CA Suraj Lakhotia (Expert)
12 February 2013 Books can be prepared on either cash basis or merchantile basis.
Profile Image

CA Lokesh Pokharna

Profile Image

CA Lokesh Pokharna (Expert)
12 February 2013 yes any basis is allowable but it should be consistent in upcoming periods also.
Profile Image

CA Lokesh Pokharna

Profile Image

CA Lokesh Pokharna (Expert)
12 February 2013 yes any basis is allowable but it should be consistent in upcoming periods also.
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
12 February 2013 Sir, but company can also make books of accounts on cash basis
Profile Image

CA Lokesh Pokharna

Profile Image

CA Lokesh Pokharna (Expert)
13 February 2013 yes co. can also make as per income tax.. but not allowable under company act.. as per co. act co . as to made its books of accounts as per mercantile method.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details