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Asked by Arpit on :Jan. 31, 2018

What is Section 145 of Income Tax Act?

What is Section 145 of Income Tax Act?

What is Section 145 of Income Tax Act?

0

Kanishka Jan. 31, 2018

Section 145 of the Income Tax Act mandates that method of accounting shall be consistently followed by the assessee...So as per department, if the assessee is consistently following mercantile system, then interest on loans which have become NPA will also have to be treated as income as per mercantile system.

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