Payment done in one year

Originally posted by : abhishek
	If sale is done in next yr then income will be automatically go in nxt yr

But the income was credited this year and the service will be provided next year. Will the credit this year be shown as income next year?

If received in advance, then in the year of receipt, it can be shown as advance received from customers (under current liability) and subsequently when the service is provided, invoice can be raised.

Originally posted by : CMA Poornima Madhava
	If received in advance, then in the year of receipt, it can be shown as advance received from customers (under current liability) and subsequently when the service is provided, invoice can be raised.

Can then the amount received as advance be also shown as an income in next financial year?

Originally posted by : abhishek
	Service nxt year m gyi to advance from customer show hoga only

Can you please translate this in English as what is written in above quote not understood.

Originally posted by : b
	Originally posted by : CMA Poornima Madhava If received in advance, then in the year of receipt, it can be shown as advance received from customers (under current liability) and subsequently when the service is provided, invoice can be raised. Can then the amount received as advance be also shown as an income in next financial year?

Yes, it can be shown

Originally posted by : CMA Poornima Madhava
	Originally posted by : b Originally posted by : CMA Poornima Madhava If received in advance, then in the year of receipt, it can be shown as advance received from customers (under current liability) and subsequently when the service is provided, invoice can be raised. Can then the amount received as advance be also shown as an income in next financial year? Yes, it can be shown

Can the company show this payment in their Form 16A for this quarter in this year for the Form 16A for the person who is providing the service and getting this payment from company in advance?