Revenue recognition - threshold limit

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..... we are builders and have adapted percentage completion method of revenue recognition as prescribed in AS7.However revenue on sale agreements is recognised only when we reach a threshold limit of 20% v .....

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..... is a vis the estimated cost.I would appreciate if any case laws are referred wherein such threshold limits are allowed for computation of business profits - Reply By Surender Gupta - The Reply = In .....

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..... my view any case law on the subject would be based on case to case basis because this issue is an issue of fact and facts may be different in each case. The recognition of revenue as per your agreemen .....

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..... t to the extent meets the requirements of AS7 or related standard issued by ICAI itself is a satisfactory situation. - Revenue recognition - threshold limit - Query Started By: - hubert fernandes Dat .....

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..... ed:- 31-12-2009 Income Tax - Got 1 Reply - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - ta .....

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..... xmanagementindia.com - TMI - TaxTMI - TMITax .....

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