07-03-2006, 05:49 AM
as far as income tax treatment as per income tax ordinance 2001 pakistan
abdur rehman is quite rite
as gain = consideration <b>received</b> - cost (s-37)
look charegability is on receipt basis , not on receivable basis
thus gain chargeable on realized basis , not realizable basis
so looking this way goodman treatment isn't correct
however if he is talking about any other country's tax rules he should mention it
and for spanky280 , he should 4 sure stick to US laws ,as US laws stand unique
abdur rehman is quite rite
as gain = consideration <b>received</b> - cost (s-37)
look charegability is on receipt basis , not on receivable basis
thus gain chargeable on realized basis , not realizable basis
so looking this way goodman treatment isn't correct
however if he is talking about any other country's tax rules he should mention it
and for spanky280 , he should 4 sure stick to US laws ,as US laws stand unique
