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Cost audit compliance.

This query is : Resolved 
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(Querist)
27 August 2012 Dear Members,

I have a query related to Cost Audit Compliance:

We are a real estate company, engaged in the business selling of properties. We generally hire outside firms and contractors to execute our projects and which they handover to us to sell the same. Neither have we employed any material, labour nor overheads.

We pay to these contractor firms sum equal to their construction cost + their margin. Since we are not employing any material, labour and overhead expenses, we don’t have any costing records related to these constructions. It all lies with these contractor firms.

Does our company cover under cost audit compliance? If not …

How can we claim exemption for these?

Your co-operation will be greatly appreciated.

Thanklng you.
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Rahul Jain

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Rahul Jain (Expert)
17 September 2012 no in my opinion............
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