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Turnover calculation on flats retained by builder and owner.

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PRAVIN PARSE

PRAVIN PARSE (Querist)
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04 January 2021 If a builder retains 3 flats out of 8 constructed flats in an amalgamated plot of land constructed by builder (own by builder and some other land owner) and he transferred 2 Flats to another land owner as a part of land consideration then what is the turnover for 44AD and how the cost of 5 flats shall be calculated and if do not opt for 44AD then how to show turnover in profit and loss account and what will be the value?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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26 September 2021 Whether JDA made?
If yes, what share of flats allotted to land owner/s?

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