Final Report of the Committee constituted for formulating Accounting Standards for the purposes of notification u/s 145(2) of the Income-tax Act, 1961

Last updated: 27 October 2012

Section 145 (1) of the Income-tax Act, 1961 (the Act) provides that the income chargeable under the head Profits and gains of business or profession or Income from other sources shall [subject to the provisions of sub-section (2)] be computed in accordance with either cash or mercantile system
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Attached File : 40_12344_asc_final_report_26102012.doc
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