RULE 9A PER MY KNOWLEDGE ONLY DEALS WITH FEATURE FILMS
AS RFEGARDS TV SERIALS PRODUCED AND TELECASTED ON A CHANNEL
HOW ACCOUNTING TO BE DONE DURING PRODUCTION ADVANCES RECEVIED BY CHANNEL TO BE ADJUSTED AFTER TELECAST OR TO BE TREATED AS INCOME IN THE YEAR RECEIVED AS FAR AS FILMS ARE CONCERN COST IS TAKEN AS WORK IN PROGRESS AND IN THE YEAR OF RELEASE ADVANCES ARE TEKEN AS INCOME
Debate on Accounting Treatment of TV Serial Advances Under Rule 9A: Adjust After Telecast or Income When Received? A query was raised regarding the accounting treatment of advances received for TV serials under Rule 9A of the Income Tax Rules, which primarily addresses feature films. The question was whether advances should be adjusted after telecast or treated as income in the year received. A respondent clarified that the term 'feature films' should not be narrowly interpreted, as it is not explicitly defined in the Income Tax Rules or Act. The discussion invited further views on whether the rule's scope should include serials. (AI Summary)
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