A Treatise on Taxation of Real Estate Cases

A Treatise on Taxation of Real Estate Cases is the most lucid and “to the point” analysis of provisions relating to real estate cases. It provides substantial guidance as to whom to be taxed, what to be taxed, when to be taxed and how to be taxed in real estate sector. This book is an essential reference for the officers of Income Tax Department, auditors and appellate authorities, real estate builders/developers, landowners, tax professionals, statutory institutional bodies like, ICAI/ICSI/ICMAI and also assesses.

Key Features:
• Lucid and simple language to describe concepts prevailing in real estate sector
• Relevant law of Income Tax Act, 1961 discussed threadbare in three parts
» First, for 2009-10 to 2011-12 (the years for which Assessing Officers of Income Tax department can reopen assessment)
» Second, for FY2012-13 to 2014-15 (since when new Guidance Note of ICAI was introduced but before ICDS was introduced)
» Third, since FY2015-16 (since when Income Computation & Disclosure Standard has been introduced)
• Relevant accounting standards of India, guidance notes of the Institute of Chartered Accountants of India (ICAI), comparable international accounting standards, other relevant Rules and Acts and procedures have been discussed
• Case laws with actual annual reports and CBDT‘s circulars are discussed
• Applicability and non-applicability of AS—7
• Actual brochures, project reports, applications/reports submitted before different organizations as specimen reproduced as illustrations
• How P&L and other relevant accounts as well as Balance sheet can be prepared with such ingredients is stated
• Provides specimen notices of required actions by Assessing Officers