BIFURCATION OF SHARES AND OTHER SECURITIES AND VALUATION OF SHARES

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..... BIFURCATION OF SHARES AND OTHER SECURITIES AND VALUATION OF SHARES
Query (Issue) Started By: - S.C. WADHWA Dated:- 20-9-2012 Last Reply Date:- 22-9-2012 Income Tax
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Income Tax
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..... A Company is engaged in real estate business and also trading in shares. Amount invested in securities other than shares are being shown as investments. The company also invests in PMS and the amoun .....

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..... t invested by it is bifurcated into shares and other investments i.e. shares transactions are shown as our trading activities and transactions in other securities are shown as investments in our books .....

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..... Please advise whether it is correct. We are valuing our closing stocks(shares) at cost or market price whichever is less. Please advise whether it is correct. Reply By CA GOPALJI AGRAWAL: The .....

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..... Reply: It is the decision/intention at the time of transaction to decide whehter it is meant for investment or for trading. One can have two portfolios. Inventory has to be valued on the policy cons .....

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..... istently followed by the assessee.
Discussion Forum - Knowledge Sharing .....

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