Taxability of Real Estate transactions
Taxability of Real Estate transactions
Taxability of Real Estate transactions
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Sellers obligations<br />
• No substantial acts to complete under<br />
the contract<br />
• Obligation to perform substantial acts;<br />
– Revenue to be recognised on<br />
proportionate basis<br />
– % completion method to be adopted<br />
– AS-7; Constructions Contracts to be<br />
followed