05 June 2020
How to account the following in the books of a company? 1) Out of an investment (long term) in one scheme in Mutual fund (NAV around Rs.10, assuming), the company switches a small portion of it to another scheme where the NAV is around Rs. 30. 2) Is there any tax implication for the difference like STCG? 3) If the company holds an investment which is considered as long term, and now the company goes into winding up in another 7 or 8 months (Dec'20), should this be reclassified as current investment as on 31-3-2020. If so,what should be the carrying cost of investment?
CAclubindia
