04 April 2019
If I sold my agricultural produce in july 2018 and got receipt slip at the time of sale but I received payment in April 2019. Then in which Financial Year this income would be counted ? Thanks
05 April 2019
The method of accounting followed in respect of other taxable income is relevant. If mercantile basis is adopted , it can be counted in FY 2018-19. If Cash basis is followed -It will be counted in FY 2019-20.
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