ADVANCE RECEIVED FROM CLIENT IS TAXABLE IN THE HAND OF LAYER( LAND REGESTRATION PRACTIONER)
LALIT KUMAR GANERIWAL (accountant) (241 Points)
09 December 2011ADVANCE RECEIVED FROM CLIENT IS TAXABLE IN THE HAND OF LAYER( LAND REGESTRATION PRACTIONER)
CA Unnikrishnan Nair N
(Chartered Accountant)
(2083 Points)
Replied 10 December 2011
REceipt of advance is point of taxation and hence tax liability arises.
CAclubindia
