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Income Tax - Highlights / Catch Notes

Home Highlights August 2017 Year 2017 This

Accrual of income - subscription income received in advance - ...


Advance Subscription Income Not Taxed in Year Received for Mercantile Accounting System: Income Accrual Case Decision.

August 24, 2017

Case Laws     Income Tax     AT

Accrual of income - subscription income received in advance - consultancy services and publishing of magazine - assessee is following mercantile system of accounting - amount of advance subscription cannot be subjected to tax in the year of receipt.

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