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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)
Quick Summary
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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