Advance tax of construction business
This query is : Resolved
Rakesh B. Surve
(Querist)
12 September 2014
sir
how to wrork out on advance tax of construction business?
There we have sale price, expenses like depreciation and also work in progress.
so how to transfer wip to cost of construction in proportionate to sales of that duration.
pls suggest ASAP bcoz day after tomorrow is due date.
12 September 2014
on completion basis you required to transfer from WIP to cost.
Percentage completion method please refer AS 7
Percentage completion method please refer AS 7
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