Block of Asset Method+Depreciation+Revaluation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 November 2010
What will be the effect of upward revaluation of fixed asset while preparing Income tax depreciation schedule under block of asset method? Whether the upward revaluation amount can be added to the opening WDV during the year?
23 November 2010
No effect of upward revaluation will be considered in the depreciation. Only such addition for which there is a monetary consideration is payable and through which a new asset is coming in the business is considered.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Purchase of property from NRI
- NRI get transferred fund from his own Indian account to his foreign US account without any approval
- How to pay tds on mhada property
- GST APPLICABILITY TO DIAGNOSTIC
- Seeing a huge entry in AIS Purchase of time deposits (SFT-005), what it is for
- CESS not claimed in GSTR3B either in inward supplies or outward supplies for the period Oct2025
- Invoice wrongly made on another GSTIN
- Eway bill and e invoice for exempt and nill rated goods
- GST Rate on Bakery Items registered under composition scheme
- Amount Received in Trust Account
- TDS on purchase of property through EOI
- Section 44AD 44AB
- ITR WITH 0 TURNOVER
- Value of Perquisite Sec.10 (10CC)
- Multiple GST under same PAN
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
