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Any income which is earned in the current financial year
(2009-10) but received in the assessment year(2010-11) wil
be taxable in the current financial year or not?

Answers were Sorted based on User's Feedback



Any income which is earned in the current financial year (2009-10) but received in the assessment y..

Answer / shivendra dutt

YES

Is This Answer Correct ?    5 Yes 0 No

Any income which is earned in the current financial year (2009-10) but received in the assessment y..

Answer / suman.g

Current Financial year is 2009-10
Relevant assessment year is 2010-11

So income is earned and received in the same year and will be taxable in the current financial year 2009-10.

Even if the income is received in the Financial year 2010-11, it will be taxable in the Financial year 2009-10, since books will be generally maintained on accrual basis.

Is This Answer Correct ?    5 Yes 0 No

Any income which is earned in the current financial year (2009-10) but received in the assessment y..

Answer / joginder singh

Every income which is earned in the current financial year
(2009-10 is taxable.

Is This Answer Correct ?    1 Yes 0 No

Any income which is earned in the current financial year (2009-10) but received in the assessment y..

Answer / vijay gombi

yes

Is This Answer Correct ?    0 Yes 0 No

Any income which is earned in the current financial year (2009-10) but received in the assessment y..

Answer / vijay

Current Financial year is 2009-10
Relevant assessment year is 2010-11

So income is earned and received in the same year and will
be taxable in the current financial year 2009-10.

Even if the income is received in the Financial year
2010-11, it will be taxable in the Financial year 2009-10,
since books will be generally maintained on accrual basis.

Is This Answer Correct ?    0 Yes 0 No

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