I provide software consulting service for a company in the USA. Since this is the first year of operation (started on June 16), I am planning to file the tax return under 44ADA.
After providing consulting service for a month, I submit invoice early next month and gets payment in 15-20 days.
I would like to know in which financial year income will be added
- Service provided in month of March 2017
- Invoice send to the client on 1st April 2017, and payment received on 20th April 2017.
Above question is specific for income tax as service tax is not applicable in this case.
CAclubindia
