Please Help: income tax
Posted Date : 09-Jan-2012 , 03:54:12 pm | Posted By: SANJAY RAWAL
Category :
Income Tax | Answers :
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whether interest on cumulative deposits can be shown in returns on receipt basis keeping in view the cicular no. 371 dated 21.11.1983. |
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Answer by: Ketan Samdani |
The cash basis method can be adopted for declaring income from other sources and the same method must be adopted consistently year after year. So interest on cumulative deposits can be declared on receipt basis.
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Posted By : PANKAJ BANSAL |
09-Jan-2012, 04:55:35 |
What is this circular no.371 |
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