https://www.taxtmi.com/circulars?id=10199 Outstanding fees realised after a professional discontinues practice are treated as the recipient's income in the year of receipt where they would have been taxable if received earlier; the discontinuing person must notify the tax officer within the statutory period or face a penalty. Tax officers are directed to use their information-gathering powers to obtain particulars of all outstanding fees at discontinuance and to call for these particulars before disposing of summary assessments so subsequent receipts can be tracked and verified against declared debts. en-us Wed, 12 Jun 1974 00:00:00 +0530 Sat, 11 Jun 2011 13:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10199 Outstanding fees realised after a professional discontinues practice are treated as the recipient's income in the year of receipt where they would have been taxable if received earlier; the discontinuing person must notify the tax officer within the statutory period or face a penalty. Tax officers are directed to use their information-gathering powers to obtain particulars of all outstanding fees at discontinuance and to call for these particulars before disposing of summary assessments so subsequent receipts can be tracked and verified against declared debts. Circulars Income Tax Wed, 12 Jun 1974 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10199