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Mercantile or cash basis

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(Querist)
03 August 2013 May I follow mercantile basis of accounting for professionals (practicing doctor) not covered under Tax Audit.
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Dintakurthi Tirumala

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Dintakurthi Tirumala (Expert)
03 August 2013 IT depends on the Interest and willingness of the assessee. But most of like and accept Mercantile basis of accounting even though as per the service tax view the accounting is mercantile basis for the latest provisions of service tax.

So suggested Mercantile basis then no confusion regarding income and etc...

OM SAI SRI SAI JAI JAI SAI
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DHANDAPANI.S

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DHANDAPANI.S (Querist)
03 August 2013 Thanks for your suggestion sir.
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