Investment
This query is : Resolved
04 October 2015
Sir, if a person purchases shares on cum- right basis, and further sell his right, then what to do - whether to assume it a capital receipt to decrease cost of investment or profit to carry it in profit and loss account .
04 October 2015
for accountancy : it is a capital receipt. However for income tax, it is capital gain.
04 October 2015
Thank you, but under module and acc. to AS 13 it is considered as profit and loss item
05 October 2015
Can you please quote the relevant text of AS 13, please?
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