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Incometax
any change in carrying value of asset when fixed asset converted in to investment?
Replies (10)
Yes ......... FMV
Can you quote the relevant section too?
Thankyou sir for your response
Most Welcome, Dear ...
What willbe the effect if INDAS is not applicable??
Cost price method was also applicable
Is it mean that it can be recorded in orginal cost??
Yes, but the reasoning should be acceptable
Thanks for your valuable response
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