banner_ad

MANAGING DIRECTOR

This query is : Open 
Profile Image

Profile Image

(Querist)
15 October 2008
Profile Image

Profile Image

(Querist)
15 October 2008 Dear frnds,

Pls advise me whether the Foriegn exchange loss can be setoff against revaluation reserve?..??..?

If so whether it is perfect compliance of Accounting standards or any violation...

regards

Adithya
Profile Image

Taxguy

Profile Image

Taxguy (Expert)
16 October 2008 No, Revaluation Reserve is only for fixed assets.
Profile Image

S.Srinivasaraghavan

Profile Image

S.Srinivasaraghavan (Expert)
18 October 2008 Can not be set off.
Profile Image

Deepak Agrawal

Profile Image

Deepak Agrawal (Expert)
12 November 2008 NO IT CANNOT BE SET-OFF as revaluation reserve is non-cash profit...
Profile Image

Guest

Profile Image

Guest (Expert)
09 October 2009 Can not be set off, as both are different
Profile Image

CA Siddhartha Bhardwaj

Profile Image

CA Siddhartha Bhardwaj (Expert)
04 April 2012 As per AS 11 any gain or loss arising due to fluctuation in exchange rates has to be credited/debited to P&L Account.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI
ChatGPT Perplexity Claude Google AI Grok

CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details