Investment account As-13
Atharv Sankliya (1356 Points)
11 January 2023
If taxes paid on investment are refundable then what will be the treatment for this ? as per AS-13
4 Replies
Yasaswi Gomes new
(Finance )
(4545 Points)
Replied 11 January 2023
This standard does not deal with taxes like capital gains and no treatment. It does however checks and treats deferred tax treatments.
Atharv Sankliya
(1356 Points)
Replied 11 January 2023
@ manish sir
if a firm/company make an investment in share of another company of 10,000 share @ rs.20 each and suppose the taxes paid of rs 1000 to purchase it is refundable then what will be the cost of acquisition to be debited in investment account
if a firm/company make an investment in share of another company of 10,000 share @ rs.20 each and suppose the taxes paid of rs 1000 to purchase it is refundable then what will be the cost of acquisition to be debited in investment account
Manish
(CA)
(1176 Points)
Replied 11 January 2023
Is it a hypothetical situation?
What is the nature of the tax levied on investment and also refundable?
Anyway, anything refundable is not part of the cost.
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