Tag Archives: M Ltd. has an accounting year of 12 months that ends on 30th November of each year

FIN623 GDB 1 Solution Spring 2018

Total Marks 5 Starting Date: Thursday, May 17, 2018 Closing Date : Wednesday, May 23, 2018 Status: OpenQuestion Title: Definitions and Scope of Income Question Description Alfa – a debtor of Beta sent a check of Rs. 15,000 on Beta’s advice to one of its creditors – Gamma. Later, Beta duly received receipt confirmation form Gamma. Briefly describe the tax treatment of this amount in the hands of Beta? […]