what will be the treatment for transfror company on profit or loss arising from sale of division.
praveen sharma sir goes for p/l, module says cpaital reserve ?
Menu
Ca final accounts
Replies (1)
Profit & loss a/c records items occuring on the normal course of business.
Sale of division is not a regular activity. It is an extraordinary activity. It has to be taken to p&l as per AS-5 by showing it separately so that its impact on current year profit or loss can be perceived.
Recent Topic
- EPF Withdrawal taxation
- While e filing otp not generating
- INCOME FROM CLOSING OF NSS -1992 -EXEMPT UNDER W
- GPF AND COMMUTED PENSION RECEIVED
- How do I choose the correct trademark class? Can I
- Error in totalling salary amount in AIS
- Client consent under DPDPA: Is client sharing PAN,
- TDS MISMATCH
- Rebate on other income even if LTCG is above my 12
- Need CA to certify shareholding pattern.
Related Topics
CAclubindia
