Treatment of Live stock

[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.