Valuation of closing stock
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 August 2014
Valuation of closing stock done
As per AS 2
As per income Tax section 145 A
why closing stock is valued as per above two method and what is impact of above valuation.
As per AS 2
As per income Tax section 145 A
why closing stock is valued as per above two method and what is impact of above valuation.
24 August 2014
If taxes outstanding as on 31st March is paid before the due date of filing return - there would not be any impact on taxable profit calculated under AS-2 & Section 145A.
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