Category Archives: Income From Other Sources

Meaning of Method of accounting under Income Tax Act 1961: Section 145 (With Case Laws)

Method of accounting under section 145 of Income Tax: There are two method of accounting for Income chargeable under the head “Profits and gains of business or profession” or “Income from other sources” as per Income tax Act and these are cash or mercantile system of accounting. Meaning of Method of accounting under Income Tax Act… Read More »