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Investment account As-13
If taxes paid on investment are refundable then what will be the treatment for this ? as per AS-13
Replies (4)
This standard does not deal with taxes like capital gains and no treatment. It does however checks and treats deferred tax treatments.
Please provide the full context.
@ manish sir
if a firm/company make an investment in share of another company of 10,000 share @ rs.20 each and suppose the taxes paid of rs 1000 to purchase it is refundable then what will be the cost of acquisition to be debited in investment account
if a firm/company make an investment in share of another company of 10,000 share @ rs.20 each and suppose the taxes paid of rs 1000 to purchase it is refundable then what will be the cost of acquisition to be debited in investment account
Is it a hypothetical situation?
What is the nature of the tax levied on investment and also refundable?
Anyway, anything refundable is not part of the cost.
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