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accounting of livestock

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(Querist)
04 May 2009 Dear Sir,

how to value livestock...of an assessee carrying dairy business....how will it appear in balance sheet
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
05 May 2009 As per AS-6 , NO dep. can be charged om the live stock. They are assets to business when ever ceases to exist charged to p/l directly

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