Valuation of closing stock

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Querist : Anonymous

Querist : Anonymous (Querist)

18 June 2015 valuation of closing stock as per income tax section 145 and as per AS-2 please mention method of valuation.

Nikhil Kaushik (Expert)
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20 June 2015 what is your question friend? for income-tax purposes, you have to use FIFO basis on inclusive basis.

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