Accounts on receipt basis
This query is : Resolved
RINESH DHANESHA
(Querist)
25 June 2016
Do professionals (CA/CS) are allowed to maintain accounts on receipt Basis even if they are under Tax Audit? Is it ok if they pay Service Tax on receipt basis?
Thanks in advance.
Thanks in advance.
Amol S Joglekar
(Expert)
26 June 2016
In fact, most of the professionals do maintain their accounts on CASH basis.
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