Method of accounting by firm having renting business

No.. Income from rental income ia taxable under the head income from house property.. i.e accrual method of accounting ifs followed..

It makes no difference if the business of form is to let out house properties...

All the rental income are taxable under head HOUSE PROPERTY, no matter whatever the business of firm is.

and under head house property income is chargeable on accrual basis i.e whenever rent become accrued, it add in the rental income

Originally posted by : shikha gupta
	Can a partnership firm having income from renting business use cash basis of accounting???

I think u r asking about accounting and no Accounting standard  or company law provision or Income tax section prohibits accounting on cash basis