Property income

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November 6, 2020 at 8:15 pm #594288
sharjeelbhatti
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Sir please tell me differences between calculation of rental income on cash basis and accrual basis? Are capital and revenue expenses are both allowable deduction in cash and accrual basis?
November 10, 2020 at 6:16 pm #594647
Tax Tutor
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These issues are clearly dealt with and examples given in section 1 of chapter 3 in the study notes and discussed in the lectures.
Section 1 note 1.2 (b) clearly states that capital expenditure is not an allowable deduction.
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