CS BHAVIK HARSHAD SHAH (Company Secretary) (1662 Points)
20 February 2011Hi Friends,
I want confirmation that we didnt get Indexed cost of acquisition in shares
but today i sold one question in that shares indexed cost of acquisition is taken by ICAI
but in the problem Balance sheet is give & cmpany is going to liquidate
please replyyyy
bhavik
MD.Taufique
(CA,CS)
(308 Points)
Replied 20 February 2011
my friend who told you that we don't take index cost of acquistion in shares,we will take index cost of acquistion if it is long term i.e hold the shares for more than 12 months and we only take cost of acquistion when we sold the shares without holding for more than 12 months.
CAclubindia
