Taxability of Real Estate transactions
Taxability of Real Estate transactions
Taxability of Real Estate transactions
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
Recognition <strong>of</strong> Revenue &<br />
Expenses<br />
If outcome <strong>of</strong> contract can be reliably estimated<br />
- Revenue & Costs pertaining to the contract<br />
should be recognized by the % completion<br />
method<br />
- Implication<br />
Total Revenue -<br />
Total Costs -<br />
Pr<strong>of</strong>it <br />
- Based on % <strong>of</strong> work completed<br />
Revenue, Cost, Pr<strong>of</strong>its, etc.<br />
up to the reporting date to be treated in F.S.