Valuation of shares
This query is : Resolved
nitin gupta
(Querist)
30 December 2013
i have to file return of an individual, he is engaged in trading of shares (Sales-1234500/-) u/s 44AD. I have holding statement of shares, it is known that closing shares are valued on market price. so plz tell me in balance sheet on which value the shares should be valued on cost basis or market value whichever is lower or on cost basis alone.
02 January 2014
First determine whether the shares have been held for trading purpose or as long term assets.
Accordingly valuation will be determined as per AS 13.
Accordingly valuation will be determined as per AS 13.
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