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Method of Accounting

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(Querist)
05 September 2009
Under which section of Income Tax Act Doctors have to follow Cash basis of accounting.
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CA. B.SRINIVASULU

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CA. B.SRINIVASULU (Expert)
06 September 2009 Section 145 of the income tax deals with method of accounting. You can follow either cash or merchantile but the same should be regularly followed.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
06 September 2009 Yes
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