https://www.taxtmi.com/acts?id=14681 Revenue is recognised when performance is achieved and no significant uncertainty exists regarding measurability or ultimate collection. For goods, recognition follows transfer of property or, where appropriate, transfer of significant risks and rewards and the cessation of effective control. For services, revenue is matched to work accomplished using the proportionate completion or completed contract method. Interest, royalties and dividends are recognised on an accrual or time basis in accordance with contractual terms and only when collectability is not significantly uncertain. en-us Sat, 04 Jun 2011 11:50:10 +0530 Thu, 17 Sep 2015 22:31:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=14681 Revenue is recognised when performance is achieved and no significant uncertainty exists regarding measurability or ultimate collection. For goods, recognition follows transfer of property or, where appropriate, transfer of significant risks and rewards and the cessation of effective control. For services, revenue is matched to work accomplished using the proportionate completion or completed contract method. Interest, royalties and dividends are recognised on an accrual or time basis in accordance with contractual terms and only when collectability is not significantly uncertain. Act-Rules Companies Law Sat, 04 Jun 2011 11:50:10 +0530 https://www.taxtmi.com/acts?id=14681