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Closing stock

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 December 2011 While computing the income from Business & Profession for Income Tax purpose whether closing stock from trading business to be included in income ?
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Aijaz Shaikh

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Aijaz Shaikh (Expert)
25 December 2011 Yes opening stock and closing stock has to be included while calculating business income.
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Aijaz Shaikh

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Aijaz Shaikh (Expert)
25 December 2011 Yes opening stock and closing stock has to be included while calculating business income.



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Abhishek Ranjan Singh

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Abhishek Ranjan Singh (Expert)
25 December 2011 Yes closing stock will on Income side and opening stock will be on expenditure side.

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