Accrual of income - the right to receive retention money accrues ...

Retention Money Is Not Income Until Contract Obligations Are Met, Implying Deferred Recognition of Income.

May 15, 2013

Case Laws Income Tax HC

Accrual of income - the right to receive retention money accrues only after the obligations under the contract are fulfilled. Therefore, it will not amount to income in the year in which amount is retained. - HC

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Accrual of income - the right to receive retention money accrues ...

Retention Money Is Not Income Until Contract Obligations Are Met, Implying Deferred Recognition of Income.

May 15, 2013

Case Laws Income Tax HC

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