Retention Money Taxable Upon Actual Receipt, Not Accrual, Says Tax Law.

Retention Money Taxable Upon Actual Receipt, Not Accrual, Says Tax Law. https://www.taxtmi.com/highlights?id=14469 Taxability of retention money - taxable in the year of receipt or on accrual basis - the retention money has to be brought to tax in the year in which the same has actually been received by the assessee from the contractees. - AT en-us Fri, 13 Sep 2013 10:08:38 +0530 Fri, 13 Sep 2013 10:08:38 +0530 TaxTMI RSS Generator Retention Money Taxable Upon Actual Receipt, Not Accrual, Says Tax Law. https://www.taxtmi.com/highlights?id=14469 Taxability of retention money - taxable in the year of receipt or on accrual basis - the retention money has to be brought to tax in the year in which the same has actually been received by the assessee from the contractees. - AT Highlights Income Tax Fri, 13 Sep 2013 10:08:38 +0530 https://www.taxtmi.com/highlights?id=14469