Deferred Revenue Taxed Later: Avoid Double Taxation by Deleting Future Assessment Income Additions for Compliance.

Deferred Revenue Taxed Later: Avoid Double Taxation by Deleting Future Assessment Income Additions for Compliance. https://www.taxtmi.com/highlights?id=55837 Accrual of income - deferred revenue income - receipt has finally been suffered to the tax but in the subsequent assessment year - if any addition is sustained in the year under consideration then there has to be deletion of the corresponding amount of the income shown by the assessee in the subsequent assessment years otherwise it would lead to double addition to the total income of the assessee which is not desirable under the provisions of law. - AT en-us Thu, 10 Dec 2020 08:23:01 +0530 Thu, 10 Dec 2020 08:23:01 +0530 TaxTMI RSS Generator Deferred Revenue Taxed Later: Avoid Double Taxation by Deleting Future Assessment Income Additions for Compliance. https://www.taxtmi.com/highlights?id=55837 Accrual of income - deferred revenue income - receipt has finally been suffered to the tax but in the subsequent assessment year - if any addition is sustained in the year under consideration then there has to be deletion of the corresponding amount of the income shown by the assessee in the subsequent assessment years otherwise it would lead to double addition to the total income of the assessee which is not desirable under the provisions of law. - AT Highlights Income Tax Thu, 10 Dec 2020 08:23:01 +0530 https://www.taxtmi.com/highlights?id=55837