Method of accounting- Accrual of income- Accounting standards.

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Winners Business Link.  Tax appeal 1159 / 2006. Dt. 18/12/14. Gujarat H C.
Even in mercantile system actual receipt of membership fees is not taxable in first year if for services to be rendered for segment of years.

AS I and matching principles to be followed to arrive at real income for taxation.

R K Patel.