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Real Estate Compliance and Management |
Real estate is new emerging growth sector with many challenges in terms of documentation, approvals, applicability of accounting standard , cost accounting records, direct and Indirect Taxation, Structuring of business deals, joint development agreements (JDA) and related taxation and accounting complexities, We provide our professional services for real estate accounting, taxation, and audit services.
- Accounting of real estate company is mix of various challenges, if not taken cared in time, real estate company may loose several benefits available to real estate company.
- Accounting of transactions involving GST input tax credits, jobworks, joint development, implication of GST in various transactions, capital gain or business profits and their accounting are challenges of the day.
- We assist real estate companies in accounting of complex transaction and verification of accounting transactions
Registration and Compliance under RERA
Real Estate (Regulation and Development) Act 2016
- India is ushering into a new era from the Real Estate’s Regulations perspective. While Real Estate (Regulation and Development) Act 2016 (“RERA”) was passed in 2016 and partially made effective from 1st May’2016,
- It is a known fact that in majority of cases, real estate consumers in India have been suffering in in absence of any specific law and regulation. With implementation of RERA, states and UTs are required to appoint Real Estate Regulatory Authority (“Authority”) to supervise Real Estate activities in their respective jurisdictions.
- The new act marks a landmark change in Real Estate environment in India. Now all the Builders (referred as “Promoters” in the Act), are mandatorily required to register their projects with authority. Similarly, Real Estate Agents (“Agents”) are required to register themselves with the authority if they wish to deal in real estate market.
- Looking at the current situation of consumer suffering across India where projects delivery is significantly delayed due to non-completion of projects in time by Builders, RERA is expected to bring fresh breeze. We feel that implementation of RERA across country is highly pro-consumer and pro-industry initiative and if implemented in letter and spirit, shall bring transparency and positive change in the Real Estate Industry in the country.
We at Jain Shah & Co impart following services:
- Registration of the Project under RERA
- Assisting in obtaining Approval from different authorities
- Assisting in funding requirements;
- Registration of the real estate agent
- RERA Audit
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