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Cash system of accounting

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 October 2010 whether cash system of accounting is allowable for trust under income tax act
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
28 October 2010 Yes , A trust can maintain the books of accounts on cash basis.
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CA Ankit Shah

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CA Ankit Shah (Expert)
29 October 2010 yes, agree with Shailesh
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