Hi,
Anyone please suggest any book or material to guide how to maintain accounts, statutory compliance for construction business of residential houses
Hi,
Anyone please suggest any book or material to guide how to maintain accounts, statutory compliance for construction business of residential houses
For maintaining accounts and statutory compliance in the construction business of residential units, here are some book and resource suggestions that can really help:
Accounting and Financial Management for Construction Contracts
Covers basics of accounting specific to construction projects
Explains project costing, revenue recognition, contract accounting
Construction Accounting and Financial Management by Steven J. Peterson
Practical guide focused on accounting systems used in construction
Covers statutory compliance, payroll, taxes, billing & receivables
Practical Guide to GST for Construction Industry by Taxmann or CA publications
Specific to GST laws applicable in construction sector
Handling input tax credit, invoicing, valuation, compliances under GST
Taxation and Accounting for Real Estate and Construction Industry (local authors)
Focus on income tax, GST, TDS, and other compliance for construction firms
CA Final/Inter Study Material on Accounting and Taxation for Real Estate and Construction Industry
Many CA institutes provide specialized modules focusing on construction business
ICAI Study Materials & Guidance Notes (Accounting for Contract)
GST & TDS Compliance in Construction Sector - Online Webinars by reputed tax experts
Industry-specific compliance checklists available on portals like Taxmann, CAclubindia
Contract Accounting: Work in progress, retention money, advance received
Revenue Recognition: As per AS-7 / Ind AS-11 (if applicable)
GST Compliance: Treatment of supply of goods and services, input credit
TDS on Contract Payments: Section 194C and relevant TDS provisions
Labour Laws: PF, ESI, professional tax compliances
Statutory Registers and Filing: Maintaining proper books as per Companies Act/ Partnership Act etc.
Hey Rakesh! For maintaining accounts and statutory compliance specifically for the construction business (residential units), here are some good book and resource recommendations:
"Accounting and Taxation for Real Estate and Construction Companies" by CA M.P. Vijay Kumar
Covers accounting principles, tax provisions, GST, and other compliance specifically tailored for real estate and construction.
"Real Estate Accounting Made Easy" by Obioma A. Ebisike
A practical guide on accounting methods used in construction and real estate projects.
"Practical Guide on GST for Real Estate and Construction Sector" by CA Neeraj Dhoot
Focuses on GST rules, input tax credit, invoicing, and returns for construction businesses.
"Statutory Compliance for Construction Companies" by various CA authors (look for latest editions)
These usually cover labor laws, contract compliance, TDS, GST, and other statutory requirements.
ICAI’s Guidance Notes on accounting for real estate and construction sector.
GST Council Notifications and FAQs — very important for updates on compliances.
CMA or Chartered Accountant Firms’ Publications — many firms publish sector-specific compliance guides.
CAclubindia Articles and Discussions — practical insights and peer discussions on compliance issues.
Government Portals like GSTN for compliance procedures and filings.
YouTube Channels by Chartered Accountants — many post easy-to-understand tutorials specific to construction business accounting and compliance.
Aggarwal Sarawagi and Co
New Delhi
CA
View Details
Vardhaman Group of India
Pimpri Chinchwad
CA Inter
View Details
CAclubindia
