1.what is liability held for trade mean?Liability can be sold in stock market,how is this possible please give some examples if possible?
2.Inventory comes under head current assets if realisable within 12 months...but if its doesnt get realised within 12 months then what will be the treatment?
3.why is donation disallowed in computation of taxes on income under AS 22?i know it wont be allowed or disallowed in future but what is the logic?
4.Provision for legal damages,bank interest charges,service tax why are they disallowed in computation of taxes on income under AS22....i know it wont be allowed or disallowed in future but what is the logic?
5.why is our accounts treatment different from tax?
CAclubindia
