Addition towards advance received for sale of flats - accrual of ...

Builder Income Taxed Only After Sale Completion; Advances Not Taxable Until Finalized Sale.

September 15, 2017

Case Laws Income Tax AT

Addition towards advance received for sale of flats - accrual of income - income accrues to a builder or developer only when transaction of sale is complete and any advance received under the agreement for sale or mere earnest money cannot be taxed as income before the transaction of sale is complete.

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Addition towards advance received for sale of flats - accrual of ...

Builder Income Taxed Only After Sale Completion; Advances Not Taxable Until Finalized Sale.

September 15, 2017

Case Laws Income Tax AT

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