Revaluation reserve in a pvt ltd company
This query is : Resolved
11 April 2014
A pvt ltd company want to create revaluation reserve by re-valuating its fixed assets.
What are the implications under companies act and tax liability under income tax act..
What are the implications under companies act and tax liability under income tax act..
11 April 2014
jsut revaluation reserve will be created in case there is upward revaluatuion else will be booked in profit & loss statement.
refer AS 10 for more on this.
refer AS 10 for more on this.
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