My grammar is 💯 good I
7296 Points
Joined March 2019
Your welcome.
You know? don’t believe every manager is real. The only advantage with professionals is they know tax impact on deferred taxes. Otherwise what ever way we treat will balance the balance sheet. Example, this can be long term asset as well in tally and increase the fairvalue and recognise it like
Demant long term asset a/c
To revaluation gain a/c
if you recognise it as deposit account
Bank a/c
To Investment Income a/c
this is because you received income from trading, put it into bank.
Then if required for AS standard FVTPL investment purpose
Deposit a/c
To Revaluation account
like this it depends upon what kind of investments you have and what is the type of income you get.