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Livestock Valuation

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(Querist)
30 January 2009 If a cow(Which is in my books) gives birth to calf then how will calf be valued in the books of account and what will be effect in income tax.

plz reply in context of AS or any Act.

regards,
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Deepak Agrawal

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Deepak Agrawal (Expert)
30 January 2009 Its like bonus share...

You will have to upadate the number of cows in ur register. But there will be no increase in amount
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Deepak Agrawal

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Deepak Agrawal (Expert)
30 January 2009 SO NO ACCOUNTING ENTRY AS AMOUNT IS NOT INVOLVED
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C A GROUP COACHING

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C A GROUP COACHING (Expert)
30 January 2009 BONUS. NO ACCOUNTING ENTRY BUT JUST ADJUSTMENT TO THE NUMBER OF LIVE STOCKS IN YOUR BOOKS.
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