S. Jaykishan

Chartered Accountants

Revenue recognition for real estate developers – Indian GAAP vs ICDS

Revenue recognition for real estate developers  – Indian GAAP vs ICDS

-By CA Vivek Newatia

Real estate as a subject has always been of interest to all professionals considering the complex implications of the transactions – legal, accounting or taxation. One question which has perplexed everyone is whether revenue in the books of real estate developers should be recognised on percentage completion method (POCM) or project completion method/ completed contract method (CCM).

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