TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Manuals
of of All Manuals
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Profits from Construction and Service Contracts Calculated by Percentage of Completion Method Under Section 43CB; Exceptions Apply</h1> Section 43CB, introduced by the Finance Act, 2018, dictates that profits from construction and service contracts are calculated using the percentage of completion method as per ICDS under section 145(2). Exceptions include contracts under ninety days, which use the project completion method, and service contracts with indeterminate acts over time, which use the straight line method. Contract revenue includes retention money, and contract costs are not reduced by incidental income like interest, dividends, or capital gains.
TaxTMI 
TaxTMI 
