banner_ad

As-7

This query is : Resolved 
Profile Image

Profile Image

(Querist)
03 December 2012 respected sir/ma'am

A builder who has taken land from landlord on a condition that after completion of construction 40% flat would be given to the landlord and remaining 60% flats would be sold by builder.
Question is that whether above transaction would be covered under AS-7 and how would be profit recognised in the books
kindly help me
Profile Image

Aditya Maheshwari

Profile Image

Aditya Maheshwari (Expert)
03 December 2012 In my view AS - 7 cannot apply.
Profile Image

Mustaqeem Khan

Profile Image

Mustaqeem Khan (Querist)
04 December 2012 If AS-7 cannot apply then how should i deal to the same prblm?
Profile Image

Aditya Maheshwari

Profile Image

Aditya Maheshwari (Expert)
04 December 2012 AS - 9 would apply. Sales value would be amount received from sale of 60% flats and expenses would be construction cost for 100% of flats.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 27 April 2026
CA Articled Assistant

GM Corporate Solutions

Noida

CA Final

View Details
Company
ARTICLESHIP 05 May 2026
ARTICLED ASSISTANT

JS ADVISORS

New Delhi

CA Inter

View Details
Company
01 May 2026
Chartered Accountant

Agrawal Jain & Co.

Raipur

CA

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
06 May 2026
Account Assistant / Article Clerk

V.K. Ranjan & Co(Chartered Accountants)

New Delhi

B.Com

View Details
Company
29 April 2026
Associate - Audit, Tax & Compliance

Open Co Consulting LLP

New Delhi

B.Com

View Details
Company
02 May 2026
Experience Audit Manager

AGGARWAL SAMIR & CO

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details