Insurance Agency Shifts Revenue Recognition to Premium Payment, Accepted by Tax Department u/s 143(3) for Four Years.

Insurance Agency Shifts Revenue Recognition to Premium Payment, Accepted by Tax Department u/s 143(3) for Four Years. https://www.taxtmi.com/highlights?id=46755 Accrual of income - recognition of revenue - change in method of accounting policy from recognition of Commission for insurance agency business from month of insurance/renewal of the policy and on payment of premium by the policy holder to only payment of premium by the policy holder - since this change was accepted by Department in subsequent four AY u/s 143(3) - no substantial question of law arises en-us Sat, 25 May 2019 09:56:41 +0530 Sat, 25 May 2019 09:56:41 +0530 TaxTMI RSS Generator Insurance Agency Shifts Revenue Recognition to Premium Payment, Accepted by Tax Department u/s 143(3) for Four Years. https://www.taxtmi.com/highlights?id=46755 Accrual of income - recognition of revenue - change in method of accounting policy from recognition of Commission for insurance agency business from month of insurance/renewal of the policy and on payment of premium by the policy holder to only payment of premium by the policy holder - since this change was accepted by Department in subsequent four AY u/s 143(3) - no substantial question of law arises Highlights Income Tax Sat, 25 May 2019 09:56:41 +0530 https://www.taxtmi.com/highlights?id=46755