Deemed income
This query is : Resolved
01 November 2013
if a company purchased shares in 10rs but the date of balance sheet fmv of that company is 15 rs ,balance 5 rs is deemed income of the hands of shareholders?
01 November 2013
No, unrealised gain should not be recognized as deemed income
investment should be valued at cost or market value whichever is less
so the purchase price should be the value of investment
investment should be valued at cost or market value whichever is less
so the purchase price should be the value of investment
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