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Accounting standard-7

This query is : Resolved 
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(Querist)
16 March 2009 Dear Madam/Sir

An individual owning a property enters into a joint venture with a company to demolish the existing property and construct the residential flats on it for sale to the common public.

Is AS-7 applicable to the company.

Regards,
Jyoti
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CA. Jyoti Baid

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CA. Jyoti Baid (Querist)
17 March 2009 Please help
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
18 March 2009 if there is contractor contractee relationship than its applicable.

when the contractor himself is undertaking the project and selling it to public than its not applicable as there is no contractor contractee relationship.
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CA. Jyoti Baid

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CA. Jyoti Baid (Querist)
21 March 2009 Thanks
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CA. Jyoti Baid

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CA. Jyoti Baid (Querist)
25 March 2009 resolved
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