banner_ad

Revaluation reserve

This query is : Resolved 
Profile Image

Profile Image

(Querist)
11 November 2013
Dear Sir/Madam,

Whether amount written back to profit and loss account from revaluation reserve is deductible under income tax act?

Thanking you.
Profile Image

CA PARAS BAFNA

Profile Image

CA PARAS BAFNA (Expert)
11 November 2013 The amount transferred from revaluation reserve is not a taxable profit so it can be deducted when the net profit is inclusive of such amount.
.
Profile Image

SATHEESH

Profile Image

SATHEESH (Querist)
12 November 2013 Thank you sir.

Deduction under which section?
Profile Image

CA PARAS BAFNA

Profile Image

CA PARAS BAFNA (Expert)
12 November 2013 There is no specific section under the Income Tax Act which requires
addition into profit of the revaluation reserve. So it can be deducted in computation directly.
.
Profile Image

SATHEESH

Profile Image

SATHEESH (Querist)
12 November 2013 Thank Your Sir.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


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
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details