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This query is : Resolved
Mukesh Kumar Tomar
(Querist)
29 October 2009
" what will be the treatment to WIP in vertical P&L? if we show the WIP in P&L the same will be taxable or not as the same is being considered as earning receivable."
Aditya Maheshwari
(Expert)
29 October 2009
IF you mean Capital WIP then it will not come in P &L
If you mean for manufacturing then taxable as if stock in hand
If you are constructing something which is going to be sold later i. e. it is ur business like constructing a building then will not come in P & L at all.
If you mean for manufacturing then taxable as if stock in hand
If you are constructing something which is going to be sold later i. e. it is ur business like constructing a building then will not come in P & L at all.
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