A Practical Guide to Construction and Real Estate: Accounting, Tax and FEMA regulations. Author: Kirit S Sanghvi
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“The only book on Real Estate and Construction covering Accounting, Tax & FEMA Regulations in length & breadth”
A Handbook that gives practical insights on
1. Discusses and critically analyses new ICAI Guidance Note on Accounting for Real Estate Transactions issued in February 2012 and effective from April 2012.
2. Accounting issues ranging from Traditional Contract accounting to modern accounting, revenue recognition.
3. Commentary and practical guidance on Income tax provisions affecting real estate/construction & infrastructure related projects – TDS, 80IA deduction etc
4. FEMA regulations governing acquisition and disposal of assets in India for NRIs/POI, etc.
5. Service tax, VAT & Works Contract implications
About the book:
• Different aspects of Accounting in construction industry along with rule based and principle based accounting approach
• Accounting for traditional contractor, Real Estate developers and development rights • Method of revenue recognition as per old and revised AS -7 along with guidance note
• Revised IAS (II)
• Difference between real estate development and construction contract
• Different view of accounting for joint ventures, joint development, redevelopment, TDR, leases etc.
• Valuation of different types of stock
• Income tax provisions relating to construction industry/real estate and infrastructure
• Detailed discussion on Tax Accounting Standard
• Current practical issues along with examples along with latest case laws
• Indian accounting standard (Old & New), along with International Accounting Standard
• Traditional accounting for contractors Incorporation of New Guidance Notes along with its advantages and critique
• Service tax (Commercial & Industrial construction, complex service, value added service & WCT and Renting of Immovable Property) relating to Construction Industry
: A Practical Guide to Construction and Real Estate: Accounting, Tax and FEMA regulations. Author: Kirit S Sanghvi