Tax on advance given and amt recd against such adv
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 May 2013
Construction company following project completion method has acquired land for project and has classified land cost as well as incidental expenses incurred for the same under work in progress . now if such land is sold how is the gain to be treated
17 May 2013
gain should be treated in the head of profit and gain form business and profession head. follow accounting standards while calculating profit by completion method.
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