Paid under income tax law: actual payment or accounting-incurred treatment governs computation of business profits and gains. Paid means either actually paid or incurred according to the method of accounting on the basis of which profits or gains of business or profession are ... Summary
Paid under income tax law: actual payment or accounting-incurred treatment governs computation of business profits and gains.
Paid means either actually paid or incurred according to the method of accounting on the basis of which profits or gains of business or profession are computed, aligning tax treatment with the taxpayer's accounting treatment.
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