Books of accounts
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 August 2014
Company must maintain books of accounts on accrual basis as per companies act.
whether as per income tax act 145A partnership firm and proprietorship firm may maintain or cash basis or accrual basis.
whether as per income tax act 145A partnership firm and proprietorship firm may maintain or cash basis or accrual basis.
Nikhil Kaushik
(Expert)
31 August 2014
firms and proprietorships can maintain on cash or accrual basis. no restriction under income-tax act.
11 September 2014
there is no restriction on the same.............
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