TaxTMI 
TaxTMI 
Revenue recognition - threshold limit
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....evenue recognition - threshold limit<br> Query (Issue) Started By: - hubert fernandes Dated:- 31-12-2009 Last Reply Date:- 4-1-2010 Income Tax<br>Got 1 Reply<br>Income Tax<br>we are builders and have ....
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....adapted percentage completion method of revenue recognition as prescribed in AS7.However revenue on sale agreements is recognised only when we reach a threshold limit of 20% vis a vis the estimated co....
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....st.I would appreciate if any case laws are referred wherein such threshold limits are allowed for computation of business profits Reply By Surender Gupta: The Reply: In my view any case law on the su....
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....bject would be based on case to case basis because this issue is an issue of fact and facts may be different in each case. The recognition of revenue as per your agreement to the extent meets the requ....
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....irements of AS7 or related standard issued by ICAI itself is a satisfactory situation.<br> Discussion Forum - Knowledge Sharing ....