Method of accounting for income from other sources

Yes you can account it on cash basis also

Income to be computed either on the basis of cash or mercantile system of accounting [Section 145(1)]

Income chargeable under the head "Profits and gains of business or profession" or "Income from other sources" shall, subject to the provisions of section 145(2)(ICDS), be computed in accordance with either cash or mercantile system of accounting regularly employed by the assessee.

Section 145 accords you the choice in the method of accounting

Thanks a lot for the clarifications

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