Revaluation and capital gain
This query is : Resolved
11 December 2013
whether stock in trade can be revalued? tax implication w r t 45 (4) of income tax act?
CA PARAS BAFNA
(Expert)
11 December 2013
Stock in trade is not a capital asset.
Query for applicability of Section 45(4) may kindly be redrafted after going through the Section referred.
.
Revaluation of stock have its impact on the current profit and loss of the enterprises so it can be shown in the P&L A/c.
.
Query for applicability of Section 45(4) may kindly be redrafted after going through the Section referred.
.
Revaluation of stock have its impact on the current profit and loss of the enterprises so it can be shown in the P&L A/c.
.
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