24 February 2011
a c.a. firm received an audit for 5 year for a lump some fee Rs 200000/- in that case how income recognise as par income tax act ? if after 2 year, due to some circumstance , the audit work can't complited i that situation what we do???
24 February 2011
Dear freind , as C.A. firm relates to profession, they have to maintain accounts on 'CASH BASIS". Which means Income is to be recognised on receipt basis.
CAclubindia
