TDR & Land Received in lieu of Construction of Public Utility
This query is : Resolved
Quick Summary
01 September 2021
We have received TDR & Land In lieu of Construction of Public Utility, So When to Book TDR revenue and Land Revenue. TDR revenue should be booked at the Time of Receipt of TDR Certificate or at the Time of actual sale of TDR? Land Revenue should be booked at the time of Receipt of Land or at the time of actual sale of Land?
01 September 2021
Book TDR revenue and land revenue at the time of receipt.
Recognise interest on TDR on accrual basis and capital gains on sale of land.
Recognise interest on TDR on accrual basis and capital gains on sale of land.
01 September 2021
Both at the time of receipts; for the evaluation of the profit/loss of the business.
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