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The cash PIT is intended to eliminate the situation in which a sole proprietor pays tax on income that he or she has not received. Ongoing tax. The cash method of accounting for tax is to be a solution to the pain of entrepreneurs struggling with payment bottlenecks. After its. The Cash PIT (Personal Income Tax) method is a newly introduced settlement method aimed at small business entrepreneurs. It allows for the determination of.

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Cash PIT method � Who is eligible? Cach PIT will also be available for individuals starting a business mid-year. This method carries over to subsequent years unless the entrepreneur submits a declaration of withdrawal from this method by February 20 of the following tax year or loses the right to apply it e.