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RENT equalisation RESERVE FOR RENT INCREASE



WE ARE LIMITED LIABILITY PARTNERSHIP INCORPORATED IN DEC MONTH.
WE HAVE TAKEN OFFICE ON RENT FOR NINE YEARS OUT OF WHICH 3 YEARS ARE LOCK IN PERIOD .
THERE WILL BE 5% INCREASE IN RENT EVERY YEAR COMPARED TO LAST YEAR.

OUR CONCERN IS THAT WHETHER WE MUST CREATE RENT EQUALISATION RESERVE ?
WHICH ACCOUNTING ASPECT APPLICABLE TO IT ?
CAN WE GET EXEMPTION FROM CREATING RENT EQUALISATION RESERVE ?

PLEASE REPLY



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