13 September 2019
Facts of the Case: A NRI has a foreign business which has business connection in india and he follows cash basis accounting system . My doubt is, with regards to details given above, if income, say $10 lakhs accrued during FY 2017-18 from export to india but not chargeable to tax in india since it was not received during the Year. It was received in next FY I.e 2018-19 in foreign. Whether the income charged to tax as income of year of receipt ( 2018-19)though it was not received in india and not accrued or deemed as accrued during in that year(18-19)?
CAclubindia
