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Income Tax

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Harishankar Thakur

Harishankar Thakur (Querist)
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04 December 2009 whether a company assessee can claim incentive on cash basis when books of accounts is in accordance with accrual system?

CA Chandra Kishore Bajpai

CA Chandra Kishore Bajpai (Expert)
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05 December 2009 As per section 145 only one of the two methods can be followed for accounting
1. Mercantile system
2. cash system
thus a company cannot follow hybrid system of accounting unless there is specific treatment for particular transaction

Harishankar Thakur

Harishankar Thakur (Querist)
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05 December 2009 Whether in case of non compliance of sec 133(6), 144 can be made???????

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