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TDR & Land Received in lieu of Construction of Public Utility

This query is : Resolved

BALDHA SACHIN (Querist)
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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?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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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.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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01 September 2021 Both at the time of receipts; for the evaluation of the profit/loss of the business.

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