Income tax on revaluation

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29 Points Posted on 23 January 2023
when we revalue our assets like building then in such case is it taxable or not
or only taxable when realised by way of selling
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On 23 January 2023 at 17:48 Report
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Quick Summary
This discussion clarifies the tax implications of revaluing assets like buildings. Generally, income tax is only payable when the asset is actually sold, not at the point of revaluation itself. The conversation also touches upon claiming depreciation without the effect of a revaluation.

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194 Points Posted on 23 January 2023
Yes it's taxable only at the time of sale...and depreciation claim on without revaluation effect
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On 23 January 2023 at 18:02
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Profession Business
28246 Points Posted on 23 January 2023
Income tax on revaluation.
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On 23 January 2023 at 18:18

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