Do companies have to pay NBT on advance installments with reference to Apartment sales?

asked Nov 10, 2017 in NBT by DPS
Apartment Sales price is planned to collect in several installments before completion of project. Hence Revenue will be recorded at the completion in 3 years. Hence there will be no Revenue for immediate taxable periods. Does the company need to pay NBT on installments collected from customers in the quarters before the completion of project/ recording of revenue?

Your answer

Your name to display (optional):
Privacy: Your email address will only be used for sending these notifications.
Anti-spam verification:
To avoid this verification in future, please log in or register.
Search Forum

Welcome to Lanka Tax Forum, where you can ask questions and receive answers from other members of the community. Although no registration is required to ask questions or provide answers, we kindly request you to take few seconds to get registered as a member.