Recognition of revenue

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 March 2018 invoice raised on 5th may 2017 for services rendered for march 2016

please explain when we should recognize income

Nikhil Kaushik (Expert)
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22 March 2018 on accrual basis it should be charged in March 2016 itself unless there are sufficient grounds for deferring revenue recognition

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