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of <h1>Taxpayers Must Use Consistent Accounting Methods; Assessments Possible Under Section 144 for Inconsistencies or Non-Compliance.</h1> Income chargeable under 'profits and gains of business or profession' or 'income from other sources' must be computed using either the cash or accrual accounting method regularly employed by the taxpayer. The Central Government may issue standards for income computation and disclosure for specific taxpayer classes or income types. If the Assessing Officer doubts the accuracy or completeness of the taxpayer's accounts, or if the prescribed accounting method is not consistently followed, or if income is not computed per the notified standards, an assessment may be made under section 144. Taxpayers can use different accounting methods for different businesses or income sources.
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