Contractors acting as developers must use Accounting Standard 9 (AS9) for revenue recognition, not Accounting Standard 7 (AS7). https://www.taxtmi.com/highlights?id=4611 Revenue recognition - AS7 vs. AS9 - in a situation when a contractor is also working as a developer, then the basis for recognition of Revenue should be relied on AS 9. - AT en-us Mon, 30 Jul 2012 07:36:35 +0530 Mon, 30 Jul 2012 07:36:35 +0530 TaxTMI RSS Generator Contractors acting as developers must use Accounting Standard 9 (AS9) for revenue recognition, not Accounting Standard 7 (AS7). https://www.taxtmi.com/highlights?id=4611 Revenue recognition - AS7 vs. AS9 - in a situation when a contractor is also working as a developer, then the basis for recognition of Revenue should be relied on AS 9. - AT Highlights Income Tax Mon, 30 Jul 2012 07:36:35 +0530 https://www.taxtmi.com/highlights?id=4611