AS-7- Accounting for Construction contracts
This query is : Resolved
14 March 2009
Hello sir,
I wanted to know the applicability of AS-7 in the following case:
An individual has given his property to a company to develop and build residential flats. In exchange the individual will get 3 flats. So, is AS-7 is applicable on the company.
Please help.
Regards,
Jyoti
I wanted to know the applicability of AS-7 in the following case:
An individual has given his property to a company to develop and build residential flats. In exchange the individual will get 3 flats. So, is AS-7 is applicable on the company.
Please help.
Regards,
Jyoti
14 March 2009
ya its applicable to the company.
14 March 2009
EXCEPT THE EXCLUDED CONTRACTS LIKE FOREST AND REGENERATIVE PRODUCTS IT IS APPLICABLE TO EVERY CONTRACT
16 March 2009
Thank you for the reply.
I wanted to add here that I have read in the book D.S.Rawat that AS-7 is not applicable on the persons who are builing residential flats for selling them to general public.
I wanted to add here that I have read in the book D.S.Rawat that AS-7 is not applicable on the persons who are builing residential flats for selling them to general public.
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.
when the contractor himself is undertaking the project and selling it to public than its not applicable as there is no contractor contractee relationship.
24 March 2009
So is As-2 applicale on this company
02 June 2009
.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Tax on Deemed Capital Gain
- Scrutiny and reopening of past returns
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- Banking Related Issue
- Difff in ais receipts and gst turnover
- ITR-Capital Gain
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
