https://www.taxtmi.com/acts?id=32232 Income from construction contracts and contracts for providing services is determined by the percentage of completion method, with short-duration service contracts accounted under the project completion method and contracts comprising indeterminate acts accounted under the straight line method. For these purposes, contract revenue includes retention money, and contract costs are not to be reduced by incidental income such as interest, dividends or capital gains. en-us Wed, 28 Mar 2018 15:03:37 +0530 Wed, 27 Aug 2025 17:07:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=32232 Income from construction contracts and contracts for providing services is determined by the percentage of completion method, with short-duration service contracts accounted under the project completion method and contracts comprising indeterminate acts accounted under the straight line method. For these purposes, contract revenue includes retention money, and contract costs are not to be reduced by incidental income such as interest, dividends or capital gains. Act-Rules Income Tax Wed, 28 Mar 2018 15:03:37 +0530 https://www.taxtmi.com/acts?id=32232