Can Company (Pvt Ltd) follow cash basis system
Abhishek Singh (Avi) (3 Points)
08 February 2021
Can a private limited company kept its books of account in a cash basis.
Abhishek Singh (Avi) (3 Points)
08 February 2021
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 08 February 2021
company-follow-cash-accounting-system-tax-purposes-section-209(3)-companies-act-mandates-accrual system
there is a case record of this in DCIT Vs Stup Consultants Pvt. Ltd. You can find the details in tax guru
sabyasachi mukherjee
(26047 Points)
Replied 20 February 2021
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 22 February 2021
The consistency concept also avoids many conflicts and luckily there is no concept as of now which prohibits any transaction.
sabyasachi mukherjee
(26047 Points)
Replied 22 February 2021
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