Membership fees

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Anupama (Querist)
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14 November 2014 Sir/Mam, I have a query that if a person submitted membership fees in a club for rs 100000 n get it's benefit for next 25 yrs then what will be the accounting treatment and tax treatment for recognition of revenue for club. plz reply as soon as possible

Amol S Joglekar

Amol S Joglekar (Expert)
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14 November 2014 Most of the clubs follow CASH system of accounting. If any one is following MERCANTILE, then proportionate revenue will be offered each year.

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