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Income Tax - Highlights / Catch Notes

Home Highlights October 2017 Year 2017 This

Taxability of retention money - the assessee should be allowed ...


Tax Retention Money When Received; Deduction Claimable in Year of Retention or Upon Awareness of Deductions.

October 13, 2017

Case Laws     Income Tax     AT

Taxability of retention money - the assessee should be allowed deduction in the year of retention or in that year in which it comes to know about the said deductions nevertheless it is pertinent to say that retention has to be taxed as and when received by the assessee.

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