sec.145 & 73

This query is : Resolved 

04 February 2009 ear sir/madam,

A company is purchasing & selling regularly shares of listed company. The company is in construction business. My Query is:

1) How to value closing stock of shares? whether AS-2 would be applicable? whether the provision for loss would be made on individual basis or on aggregate basis?

2) Whether the profit/loss on sale of shares should be taxable under the head capital gains or speculative gain as provided u/s 73?

thanks
arjun

04 February 2009 1) as-2 is not applicable for valuation.
2) it will be speculation income.

06 February 2009 it will be speculation income/loss it doesnot amount to investment for capital gain/loss

rds

cavipin garg
partner,
KVR & Co.
Chartered Accountants
B-2/1 Ashish Complex LSC,
New Rajdhani Enclave,
Vikas Marg Delhi-110092
kvrco@in.com
Tax, Assurance, Consultancy, ROC, STPI/ SEZ

Tel :011-22515695





You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries