Indian Income-Tax Act, 1922

13. Method of accounting.—Income, profits and gains shall be computed, for the purposes of sections 10 ^* and 12, in accordance with the method of accounting regularly employed by the assessee:

Provided that, if no method of accounting has been regularly employed, or if the method employed is such that, in the opinion of the Income-tax Officer, the income, profits and gains cannot properly be deduced therefrom, then the computation shall be made upon such basis and in such manner as the Income-tax Officer may determine.

 

 

 

[As amended up to date]