Hello, everyone! I have come across many web portals which claim that LIFO reduces your tax burden... How does this mechanism work? And is LIFO allowed by AS in India, because IFRS doesn't allow it?
Vatsal Bhandari (-) (140 Points)
04 October 2013Hello, everyone! I have come across many web portals which claim that LIFO reduces your tax burden... How does this mechanism work? And is LIFO allowed by AS in India, because IFRS doesn't allow it?
CA Mitesh N Kothari
(9821662799)
(391 Points)
Replied 05 October 2013
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