Revaluation Reserve A/c
This query is : Resolved
Sumit Jain
(Querist)
28 April 2009
As per AS-10,
Revaluation reserve A/c is to be made when ever we revalue our assets.
and additonal dep is to be charged from this resrve.
Revaluation reserve A/c is to be made when ever we revalue our assets.
and additonal dep is to be charged from this resrve.
Sumit Jain
(Querist)
28 April 2009
I want to know why we do this only in case of Companies but not in firm or proprieter ship concern.?
Vipul J. Bhavsar
(Expert)
29 April 2009
Dear Sumit, Will you please show me where it is written that AS - 10 is applicable only for the companies?
AS-10 applies to all kinds of Enterprises.
AS-10 applies to all kinds of Enterprises.
29 April 2009
Agree with Vipul...
But usually no prop. concern or Partnership firm revalues its assets as in prop. concern & p.firm we charge depreciation as per income tax so we usually keep balance in our accounts as per WDV in income tax.
But usually no prop. concern or Partnership firm revalues its assets as in prop. concern & p.firm we charge depreciation as per income tax so we usually keep balance in our accounts as per WDV in income tax.
29 April 2009
Agree with Vipul...
But usually no prop. concern or Partnership firm revalues its assets as in prop. concern & p.firm we charge depreciation as per income tax so we usually keep balance in our accounts as per WDV in income tax.
But usually no prop. concern or Partnership firm revalues its assets as in prop. concern & p.firm we charge depreciation as per income tax so we usually keep balance in our accounts as per WDV in income tax.
Sumit Jain
(Querist)
29 April 2009
hey vipul and devin
i just wabt to know whether AS-10 is mandatory for all enterprises or mandatory only for companies
i just wabt to know whether AS-10 is mandatory for all enterprises or mandatory only for companies
taxindiaconnect
(Expert)
29 April 2009
AS 10 is mandatory for all the companies and big indutrial and commercial enterprises. It is not mendatory for prop and partnership firms.
Sumit Jain
(Querist)
08 May 2009
thanx rajesh
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