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TAX AUDIT

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(Querist)
30 September 2010 MY CLIENT IS A BLDG. DEVELOPER ,

1)DURING THE YEAR WORK COMPLETED IS MORE THAN 40 Lac, But no sale agreeement is made with any body as no flat is sold. Whether he is liable for Tax Audit.

2) Can he follow Completed Method for Taxation Purpose.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
30 September 2010 AS-7 may be followed for accounting as well as income tax purposes.
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Hemu Kapoor

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Hemu Kapoor (Expert)
01 October 2010 Sir, are all accounting standards accepted by IT Dept. for IT Purpose..

Could you please clarify..
as i always had this doubt in my mind

Regards.
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