valuation problem of personal assets

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abidul islam (Querist)
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09 August 2010 sir, In making a personal balancesheet
whether the value of personal assets like
land, share, gold are to be shown at market value or its acquisition cost.?

Aditya Maheshwari

Aditya Maheshwari (Expert)
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09 August 2010 At its acquisition cost only.

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
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09 August 2010 Agreed with Shri Aditya.

But if you are preparing the balance sheet for the purpose of bank finance; then prepare it according to the market value.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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09 August 2010 In addition also if u are making for bank finance then value the assets at cost for th purpose of balance sheet and give a networth certificate valuing assets at market price.

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