HOW U WILL DO ACCOUNTING OF OF LIFETIME PREPAID SCHEME IN TELECOMM COMPANIES AS INCOME BOOKEDIN ONE YEAR OR IT PARTLY BOOKED IN DEPOSIT & PARTLY BOOKED AS INCOME
01 August 2008
The amount paid as lump sum rent, in my opinion may be claimed as deduction in the year of payment as the payment made under OYT scheme is fully allowable as expenditure in the year of payment vide CBDT circular
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