When to book income in accounts?
This query is : Resolved
31 July 2012
dear all,
i started business of renting P&M on hire from jan,12. Now i used to raise bill on 1st day of next month i.e 01st feb,12 and like this.
for mar,12 i raise bill on 1st april,12.
but company while providing me TDS certificate claimed this expenditure in their mar,12 accounts.
so should i book mar,12 bill on 31.03.2012 irrespective of the fact that i didnt raise march bill et till 31.3.2012..
please help
urgent....
i started business of renting P&M on hire from jan,12. Now i used to raise bill on 1st day of next month i.e 01st feb,12 and like this.
for mar,12 i raise bill on 1st april,12.
but company while providing me TDS certificate claimed this expenditure in their mar,12 accounts.
so should i book mar,12 bill on 31.03.2012 irrespective of the fact that i didnt raise march bill et till 31.3.2012..
please help
urgent....
31 July 2012
Yes, following accrual system of accounting you have to book march'12 bill in thr financial year 2011-12 .
31 July 2012
yes as per accrual system you should book it in FY 11-12 , but subject to AS-9 requirement compliance.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Stamp Paper for partnership firm change new income tax 2025
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- FORM 26A APPLICABILITY
- SFT Cash Deposit in Current Account
- Annual return in Gst
- When TDS on GST applied
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
