HOW U WILL DO ACCOUNTING OF LIFETIME PREPAID SCHEME
This query is : Resolved
01 August 2008
HI FRIENDS
HOW U WILL DO ACCOUNTING OF OF LIFETIME PREPAID SCHEME IN TELECOMM COMPANIES AS INCOME BOOKEDIN ONE YEAR OR IT PARTLY BOOKED IN DEPOSIT & PARTLY BOOKED AS INCOME
PLEASE SOLVED MY QURIES
THANKING YOU
HOW U WILL DO ACCOUNTING OF OF LIFETIME PREPAID SCHEME IN TELECOMM COMPANIES AS INCOME BOOKEDIN ONE YEAR OR IT PARTLY BOOKED IN DEPOSIT & PARTLY BOOKED AS INCOME
PLEASE SOLVED MY QURIES
THANKING YOU
01 August 2008
The amount paid as lump sum rent, in my opinion may be claimed as deduction in the year of payment as the payment made under OYT scheme is fully allowable as expenditure in the year of payment vide CBDT circular
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