Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights August 2016 Year 2016 This

Accrual of income - income can be said to accrue only when it ...

Income Tax

August 22, 2016

Accrual of income - income can be said to accrue only when it becomes due and must be accompanied by corresponding liability of the other party to pay the amount and only then it can be said that for the purpose of income-tax that the income has accrued to the assessee - AT

View Source

 


 

You may also like:

  1. Accrual of income - taxability of advances received - Merely because an amount has been entered into in assessee’s book, is not conclusive proof that income has accrued - AT

  2. Accrual of income - effect of addendum of agreement - merely because in the original agreement, the parties had agreed to a higher sum by way of sale consideration, such...

  3. Accrual of income - Income from advance license benefit - income does not accrue in the year of export but in the year in which the imports are made - HC

  4. Interest on sticky advances – accrual of income - provision of interest on doubtful debts - the interest income relatable to NPA advances did not accrue to the assessee - AT

  5. Accrual of income on government bonds - 8% GOI Bonds - interest for the period from 1/4/2006 to 31/3/2006 would only accrue on 30th June as per the scheme - AT

  6. Income recognition - No doubt, the Income-tax Act takes into account two points of time at which the liability to tax is attracted, viz., the accrual of the income or...

  7. Additions towards amount of TDS deducted on interest - accrual of interest income but not received - Merely because the borrower has deposited TDS amount that itself...

  8. Whether assessee was liable to deduction u/s 36(1)(iii), on account of interest accrued in respect of capital converted into loan - Held No - Payment of a liability is...

  9. Recovery of short paid service tax - Construction of Complex Service - adjustment of the excess service tax paid - Service Tax when introduced followed the receipt based...

  10. Interest u/s 234B – Tax liability due to retrospective amendment - failure to pay advance tax - no interest liability under section 234B - HC

 

Quick Updates:Latest Updates