https://www.taxtmi.com/acts?id=51822 Inventory for computing business income must be valued under income computation and disclosure standards at the lower of actual cost or net realisable value, with purchase, sale and inventory valuations adjusted to include any tax, duty, cess or fee actually paid to bring goods or services to their location and condition. Unquoted or irregularly quoted securities are initially recognised at actual cost, other securities follow the lower-of-cost-or-NRV rule, and securities held by scheduled banks or public financial institutions are valued in accordance with the standards after accounting for Reserve Bank guidelines; comparisons are made category-wise. en-us Thu, 14 Aug 2025 17:24:03 +0530 Wed, 03 Sep 2025 16:27:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=51822 Inventory for computing business income must be valued under income computation and disclosure standards at the lower of actual cost or net realisable value, with purchase, sale and inventory valuations adjusted to include any tax, duty, cess or fee actually paid to bring goods or services to their location and condition. Unquoted or irregularly quoted securities are initially recognised at actual cost, other securities follow the lower-of-cost-or-NRV rule, and securities held by scheduled banks or public financial institutions are valued in accordance with the standards after accounting for Reserve Bank guidelines; comparisons are made category-wise. Act-Rules Income Tax Thu, 14 Aug 2025 17:24:03 +0530 https://www.taxtmi.com/acts?id=51822