Incometax

03 July 2018

any change in carrying value of asset when fixed asset converted in to investment?

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10 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177972 Points)
Replied 03 July 2018

Yes ......... FMV

Basil c sunny (21 Points)
Replied 03 July 2018

Can you quote the relevant section too?

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177972 Points)
Replied 03 July 2018

1 Like

Basil c sunny (21 Points)
Replied 03 July 2018

Thankyou sir for your response

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177972 Points)
Replied 04 July 2018

Most Welcome, Dear ...

Basil c sunny (21 Points)
Replied 04 July 2018

What willbe the effect if INDAS is not applicable??

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177972 Points)
Replied 04 July 2018

Cost price method was also applicable

Basil c sunny (21 Points)
Replied 04 July 2018

Is it mean that it can be recorded in orginal cost??

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177972 Points)
Replied 04 July 2018

Yes, but the reasoning should be acceptable

Basil c sunny (21 Points)
Replied 04 July 2018

Thanks for your valuable response

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