https://www.taxtmi.com/forum/issue?id=119232 A professional under presumptive taxation must choose between reporting income on an actual receipts basis-matching taxable income to cash received but risking higher tax on subsequent arrears-or recognising receivables on an accrual basis and declaring the full due income in the year it arises. Advisers stress maintaining the method of accounting consistently, suggest asking the deductor to deduct TDS on the full amount in the current year where feasible, and indicate rectification with the assessing officer if TDS credit or processing issues occur. en-us Sat, 27 Jul 2024 13:46:51 +0530 Fri, 24 Jan 2025 10:40:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=119232 A professional under presumptive taxation must choose between reporting income on an actual receipts basis-matching taxable income to cash received but risking higher tax on subsequent arrears-or recognising receivables on an accrual basis and declaring the full due income in the year it arises. Advisers stress maintaining the method of accounting consistently, suggest asking the deductor to deduct TDS on the full amount in the current year where feasible, and indicate rectification with the assessing officer if TDS credit or processing issues occur. Discussion-Forum Income Tax Sat, 27 Jul 2024 13:46:51 +0530 https://www.taxtmi.com/forum/issue?id=119232