cash and mercantile system
This query is : Resolved
21 March 2009
If we have to follow only mercantile system of accounting then why do we mention in notes to accounts and in 3CD report that the compamy follows 'mercantile system'
21 March 2009
Dear Amit,
First it is not necessary to follow Mercantile System.
Section 145 suggest two System of accounting in IT i.e Mercantile and Cash. therefore you have to mention.
First it is not necessary to follow Mercantile System.
Section 145 suggest two System of accounting in IT i.e Mercantile and Cash. therefore you have to mention.
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