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Ask your queries or reply to others' queries => Discussion => Topic started by: Mansha on December 12, 2011, 11:35:55 AM

Title: Treatment of Live stock
Post by: Mansha on December 12, 2011, 11:35:55 AM
Respected experts

What is the treatment of live stock ?

Thanks
Title: Re: Treatment of Live stock
Post by: probal_shome on December 12, 2011, 01:28:29 PM
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.
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