Welcome to Monday Corner, an initiative from Tax Publishers…
Monday Corner is specially designed to reward the intellectuals like you:
- We will send a Brainteaser on every Monday through email to your inbox and
- You need to send your answer in revert with reasoning by Wednesday at quiz.taxpub@gmail.com
The most suitable reply will be uploaded on our website (www.taxpublishers.in) in Monday Corner along with the photo/credentials of the winner of the week. If, per chance, winner happens to be more than one, the result will be drawn by lottery.
The winner would receive any one of the following books as free gift...
Quiz for the week (21 April 2025) :
Son Jewellers is a proprietary concern engaged in jewellery business. It was valuing the closing stock at cost or NRV whichever is less. The cost was ascertained by following FIFO method. Now due to continuous increase in price of gold, the assessee wants to adopt LIFO method for the stock of inventory held as on 31st March,2025. Is it possible to do so? What would be your answer in case it is a corporate entity?
Share your thoughts on the above on or before 28.04.2025.