VALUATION OF SHARES
This query is : Resolved
25 October 2008
AN INDIVIDUAL IS VALUING SHAREs AT "LOWER OF COST OR MARKET VALUE SCRIP VISE". THE ASSESSING OFFICER HAS RAISED OBJECTION AND WANT TO VALUE SHRES ON " LOWER OF COST OR MARKET VALUE ON GROSS BASIS"
THOUGH AS -13 " VALUATION OF INVESTMENTS CLEARLY STATES CURRENT INVESTMENT VALUATION IS TO BE DONE ON INDIVIDUAL BASIS. THE OFFICER HAS ASKED FOR ANY CASE LAW ON THE MATTER .
IF ANY BODY CAN HELP ME IN THIS MATTER---
THANKS AND REGARDS
---singh_v_b@hotmail.com--
THOUGH AS -13 " VALUATION OF INVESTMENTS CLEARLY STATES CURRENT INVESTMENT VALUATION IS TO BE DONE ON INDIVIDUAL BASIS. THE OFFICER HAS ASKED FOR ANY CASE LAW ON THE MATTER .
IF ANY BODY CAN HELP ME IN THIS MATTER---
THANKS AND REGARDS
---singh_v_b@hotmail.com--
CA Bosu babu
(Expert)
28 October 2008
AS-13 is not applicable for individuals..
So indl can shw at gross basis or scrip value.
But for assessing officer convinient show
1.Total Cost of Toatl shares &
2.Total Market Value of total shares
So indl can shw at gross basis or scrip value.
But for assessing officer convinient show
1.Total Cost of Toatl shares &
2.Total Market Value of total shares
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