Openning stock
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 July 2014
Can we show Opening Stock in trading accont in order to reduce profit margin while ever first starting accouting/book keeping for small buisiness???
Sandeep Dharar
(Expert)
01 July 2014
Yes u must have to show stock in ITR. Both Opening and Closing.
CA UMESH DULAL
(Expert)
01 July 2014
If you have opening stock, then yes.......
Rupesh Jain
(Expert)
01 July 2014
to reduce profit margine ? not clear
you have to take stock valuation as you take earlier, if you make change in valuation then you have to disclosed in ITR.
you have to take stock valuation as you take earlier, if you make change in valuation then you have to disclosed in ITR.
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