What is the treatment of Live Stock ? if it is transfer to
the Profit & Loss Account or otherwise it will be treated?

Answer Posted / parul

Live stock will be depreciated as per revaluation method.
Every year revaluation will be made and differencing amount
will be written off to p & l a/c as depreciation.

Is This Answer Correct ?    1 Yes 1 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

due date for issue of C form, if c form is not issue what will be the consequences

3334


I want to know how to calculate VAT / WCT Liability under composition scheme and regular scheme at Karnataka

1809


professional tax rate

1680


Why service tax payable is not considered while calculating Wct Tds.

3760


i paid tds through my bank account but i entered the assessment year as 2010-11(the current year) instead of 2011-12(actual assessment year). what is the remedy for this. how do i get refund for the wrongly paid sum. or is there any way to currect the assessment year?

1734






If a person got gold by wining a lottery and TDS on the gold value was not deducted by the deductor. After getting the gold, the person tranfer the gold to his daughter. After reading the provisions of the Income Tax Act, 1961, you are required to state that who is liable to pay the tax on the value of the gold? and is there any liability of the Deductor towards non-deduction of TDS?

2624


I paid service tax double time due to web site problem for the year 2009-10, is there any chance to claim that amount if yes please tell me the process. thanking you.

1585


Define assessment year.

728


send me all current year taxation such that rates and exemptions or on which web site i have to prefer

1497


Sir Kindly tell me Where is the best institute fir SAP(FICO-CIN and New GL module specially) in Hyderabad ASAP. Regards Om 9910699167

1885


if am registered dealer & i am using road permit, i have to pay entry tax, which goods, I am receving in jammu

1601


Dear Sir/Mam Please send me a return under delhi vat for learning purpose Thank & Regards Sonu Kumar

1510


I have a plot at Visakhapatnam. I have entered into a contract with a builder which enables him to construct 10 flats on the plot and builder and myself will share 50:50 of the constructed area. i.e. builder will get 5 and i will get 5 flats. Builder is not paying me any other consideration apart from 5 flats. Kindly clarify as to whether any servive tax is applicable and payable by me ?- kgr varma

1565


Define the term person?

661


If anybody have knowledge about opening for the post of accountant(for Gurgaon/Delhi) kindly mail me verma_moti@yahoo.co.in. I am handling accounting sales tax/vat,Excise,service Tax,Tds and MIS.

1469