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Openning stock

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Querist : Anonymous

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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???
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Sandeep Dharar

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Sandeep Dharar (Expert)
01 July 2014 Yes u must have to show stock in ITR. Both Opening and Closing.
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CA UMESH DULAL

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CA UMESH DULAL (Expert)
01 July 2014 If you have opening stock, then yes.......
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Rupesh Jain

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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.
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