Builder Income Taxed Only After Sale Completion; Advances Not Taxable Until Finalized Sale. https://www.taxtmi.com/highlights?id=36317 Addition towards advance received for sale of flats - accrual of income - income accrues to a builder or developer only when transaction of sale is complete and any advance received under the agreement for sale or mere earnest money cannot be taxed as income before the transaction of sale is complete. en-us Fri, 15 Sep 2017 09:50:52 +0530 Fri, 15 Sep 2017 09:50:52 +0530 TaxTMI RSS Generator Builder Income Taxed Only After Sale Completion; Advances Not Taxable Until Finalized Sale. https://www.taxtmi.com/highlights?id=36317 Addition towards advance received for sale of flats - accrual of income - income accrues to a builder or developer only when transaction of sale is complete and any advance received under the agreement for sale or mere earnest money cannot be taxed as income before the transaction of sale is complete. Highlights Income Tax Fri, 15 Sep 2017 09:50:52 +0530 https://www.taxtmi.com/highlights?id=36317