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VIII - Securities Preamble (w.e.f. AY 2017-18)

ICDS - 08 - Rule - Income computation and disclosure standards - w.e.f. AY 2017-18 - Other Direct Tax / Income Tax - ICDS - 08 - H. Income Computation and Disclosure Standard VIII relating to securities Preamble (Vide notification no. 87/2016 dated 29-9-2016 w.e.f. Assessment Year 2017-18) This Income Computation and Disclosure Standard is applicable for computation of income chargeable under the head "Profits and gains of business or profession" or "Income from other sources" .....

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rest 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 .....

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shall not include derivatives referred to in sub-clause (ia) of that clause (h). 3(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. Recognition and Initial Measurement of Securities 4. A security on acquisition shall be recognised at actual cost. 5. The actual cost of a security shall comprise of its purchase price and include acquisition charges such a .....

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ween pre-acquisition and post-acquisition periods; the pre-acquisition portion of the interest is deducted from the actual cost. 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 .....

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r; and (b) the value of the securities of the business as on the close of the immediately preceding previous year, in any other case. 12. Notwithstanding anything contained in paras 9, 10 and 11, at the end of any previous year, securities not listed on a recognised stock exchange; or listed but not quoted on a recognised stock exchange with regularity from time to time, shall be valued at actual cost initially recognised. 13. For the purposes of paras 9, 10 and 11 where the actual cost initiall .....

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