Under the head ‘Profits and gains of business or profession’, the method of accounting that should be followed by an assessee is –
A. Cash system only
B. Mercantile system only
C. Hybrid system only
D. Cash system or mercantile system only
Answer:D
Under the head ‘Profits and gains of business or profession’, the method of accounting that should be followed by an assessee is –
A. Cash system only B. Mercantile system only C. Hybrid system only D. Cash system or mercantile system only