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Q. > Please Help: income tax
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289 views • Question added Jan 23, 2015 • Income Tax • By Aashima , Panchkula Urban Estate


can we include livestock in fixed assets for dairy farm? if yes what is accounting treatment

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ANURADHA AGRAWAL

24-Jan-2015 , 01:32:31 am

Dear aashima, It should be understood that accounting and taxation are different. For accounting Livestock should be treated as fixed asset. however in case of taxation depreciation is not allowed and it is fully allowed when the livestock dies of no more useful.

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