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Treatment of Live stock

Started by Mansha, December 12, 2011, 11:35:55 AM

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Mansha

Respected experts

What is the treatment of live stock ?

Thanks

probal_shome

In what context? If you are a trader in live stock, then it will be your stock-in-trade. If you are using it as a capital asset (e.g. farmer or bullock cart owner), then it will be a capital asset though you are not entitled to claim depreciation thereon.

Probal.