https://www.taxtmi.com/acts?id=32017 Section 43CB requires profits from construction and service contracts to be computed by the percentage of completion method under the Income Computation and Disclosure Standards, with service contracts of not more than ninety days using the project completion method and contracts involving indeterminate acts using the straight line method. Contract revenue must include retention money and contract costs must not be reduced by incidental income such as interest, dividends or capital gains. The provision is effective from April 1, 2017. en-us Mon, 19 Mar 2018 14:39:56 +0530 Mon, 19 Mar 2018 14:39:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=32017 Section 43CB requires profits from construction and service contracts to be computed by the percentage of completion method under the Income Computation and Disclosure Standards, with service contracts of not more than ninety days using the project completion method and contracts involving indeterminate acts using the straight line method. Contract revenue must include retention money and contract costs must not be reduced by incidental income such as interest, dividends or capital gains. The provision is effective from April 1, 2017. Act-Rules F. Acts / Amendment Acts Mon, 19 Mar 2018 14:39:56 +0530 https://www.taxtmi.com/acts?id=32017