Dear All,
What shall be the effects of ICDS on shares held as stock in trade as on the last day of the financial year under following scenarios and how it shall affect my business and income computation..
Business Inc. from shares- 50L
1st scenario
Closing stock of shares at cost - 25L
Market value of shares on 31st mar- 15L
2nd scenario
Closing stock of shares at cost - 25L
Market value of shares on 31st mar- 40L
Pls help how will it affect the computation..
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ICDS impact on Shares Held as Stock In Trade
Replies (2)
Quick Summary
You have to calculate by closing the journal and ledger and draw up a trial balance and prepare p&l account and balance sheet dear!
Dear Samantha,
That i am aware of, but i want to know how under both scenarios my computation of business income is affected...
That i am aware of, but i want to know how under both scenarios my computation of business income is affected...
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