Fees collections income current year or next year show
This query is : Resolved
Kollipara Sundaraiah
(Querist)
13 December 2021
Sir,
One of the professional income it assessee fees collections from patients rs:20 lacs
Fees collections from health services rs:4 lacs in f.y.20-21.if health services income amount next year 21-22 received.assessee accounting records maintained cash basic
Question:
Assessee Gross income rs:20 lacs or rs:24 lacs show in it returns in f.y.20-21.
One of the professional income it assessee fees collections from patients rs:20 lacs
Fees collections from health services rs:4 lacs in f.y.20-21.if health services income amount next year 21-22 received.assessee accounting records maintained cash basic
Question:
Assessee Gross income rs:20 lacs or rs:24 lacs show in it returns in f.y.20-21.
B Sathyanarayanan
(Expert)
13 December 2021
Since your are using Cash not accruals , you account on the fees received , so you show Rs 20lakhs as income in fyear 20-21
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