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Feb 28, 2022 Circulars & Notifications Attachment Link
The Finance Bill 2022 proposes cash basis of accounting
The Finance Bill 2022 has proposed that the “Application” of funds under section 11 would be considered only when it is actually “Paid” by the Organization
i) Irrespective of the year in which liability arises, and
ii) Irrespective of the method of accounting regularly employed.