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Home Acts & Rules Direct Taxes Rules Accounting Standards U/s 145(2) Chapters List Income computation and disclosure standards - w.e.f. AY 2017-18 This
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ICDS - 08 - VIII - Securities (w.e.f. AY 2017-18) - Accounting Standards U/s 145(2)

Extract

..... ade. 2. This part of Income Computation and Disclosure Standard does not deal with: (a) the bases for recognition of interest and dividends on securities which are covered by the Income Computation and Disclosure Standard on revenue recognition; (b) securities held by a person engaged in the business of insurance; (c) securities held by mutual funds, venture capital funds, banks and public financial institutions formed under a Central or a State Act or so declared under the Companies Act, 1956 (1 of 1956) or the Companies Act, 2013 (18 of 2013). Definitions 3(1) The following terms are used in this part of Income Computation and Disclosure Standard with the meanings specified: (a) "Fair value" is the amount for which an asset coul .....

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ICDS - 08 - VIII - Securities (w.e.f. AY 2017-18) - Accounting Standards U/s 145(2)

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..... Subsequent Measurement of Securities 9. At the end of any previous year, securities held as stock-in-trade shall be valued at actual cost initially recognised or net realisable value at the end of that previous year, whichever is lower. 10. For the purpose of para 9, the comparison of actual cost initially recognised and net realisable value shall be done categorywise and not for each individual security. For this purpose, securities shall be classified into the following categories, namely:- (a) shares; (b) debt securities; (c) convertible securities; and (d) any other securities not covered above. 11. The value of securities held as stock-in-trade of a business as on the beginning of the previous year shall be: (a) the cost of securities .....

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ICDS - 08 - VIII - Securities (w.e.f. AY 2017-18) - Accounting Standards U/s 145(2)

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..... the Securities Contract (Regulation) Act, 1956 (42 of 1956) and shall include share of a company in which public are not substantially interested; 2(2) Words and expressions used and not defined in this part of Income Computation and Disclosure Standard but defined in the Act shall have the meaning respectively assigned to them in the Act. Classification, Recognition and Measurement of Securities 3. Securities shall be classified, recognised and measured in accordance with the extant guidelines issued by the Reserve Bank of India in this regard and any claim for deduction in excess of the said guidelines shall not be taken into account. To this extent, the provisions of Income Computation and Disclosure Standard VI on the effect of changes .....

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ICDS - 08 - VIII - Securities (w.e.f. AY 2017-18) - Accounting Standards U/s 145(2)

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