A company purchased gold in 2010, they want to valuate in 31 march, 2018, so my question is if they show as a investment of Rs. 200000.00 and in the end of march valuation is 300000.00, so what will be the effect in tally, please give me a brief descripttion.
Menu
Gold valuation entry in tally
Replies (1)
reevaluation of investments. as per AS 13 will affect.
as per standard values are to be disclosed based on nature of investment. weather it is long term investment or short term investment.
if long term nature investments we're valued at cost price itself.
if it is short term nature, values at lower of cost or net realisable value.
but in your case better to shown at cost only.
as per standard values are to be disclosed based on nature of investment. weather it is long term investment or short term investment.
if long term nature investments we're valued at cost price itself.
if it is short term nature, values at lower of cost or net realisable value.
but in your case better to shown at cost only.
Recent Topic
- Business income source for husband and wife
- Set off of LTCL against STCG under section 536(2n)
- Audit Workflow tool
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
- NRI Query: Capital Gains Tax Exemption under Secti
- Royalty payment to UK
- Calculate ITR2 tax with equity and non equity prof
- LTCG on residential property sale - Rebate?
- TDS MISMATCH AND AIS
Related Topics
CAclubindia
