Dear Friends,
Please suggest.
In Budget 2017, it was proposed that For builders for whom constructed buildings are stock-in-trade, tax on notional rental income will only apply after one year of the end of the year in which completion certificate is received.
What is the purpose behind introducing this provision?
Notional rental tax deferral for builders: liability arises only after one year from completion certificate year-end. Budget 2017 proposes that tax on notional rental income for builders treating constructed buildings as stock-in-trade will be levied only after one year from the end of the year in which the building's completion certificate is received. (AI Summary)
TaxTMI 
TaxTMI 
