A Treatise on Taxation of Real Estate Cases

Description

This book is an essential reference for the officers of Income Tax Department, auditors and appellate authorities, real estate builders/developers, landowners, tax professionals, statutory institutional bodies like, ICAI/ICSI/ICMAI and also assesses. Key features:

• Lucid and simple language to describe concepts prevailing in real estate sector
• Relevant law of Income Tax Act, 1961 discussed threadbare in three parts
• First, for 2009-10 to 2011-12 (the years for which Assessing Officers of Income Tax department can reopen assessment)
• Second, for FY2012-13 to 2014-15 (since when new Guidance Note of ICAI was introduced but before ICDS was introduced)
• Third, since FY2015-16 (since when Income Computation & Disclosure Standard has been introduced)
• Relevant accounting standards of India, guidance notes of the Institute of Chartered Accountants of India (ICAI), comparable international accounting standards, other relevant Rules and Acts and procedures have been discussed
• Case laws with actual annual reports and CBDT‘s circulars are discussed
• Applicability and non-applicability of AS—7
• Actual brochures, project reports, applications/reports submitted before different organizations as specimen reproduced as illustrations
• How P&L and other relevant accounts as well as Balance sheet can be prepared with such ingredients is stated
• Provides specimen notices of required actions by Assessing Officers