But usually no prop. concern or Partnership firm revalues its assets as in prop. concern & p.firm we charge depreciation as per income tax so we usually keep balance in our accounts as per WDV in income tax.
But usually no prop. concern or Partnership firm revalues its assets as in prop. concern & p.firm we charge depreciation as per income tax so we usually keep balance in our accounts as per WDV in income tax.
29 April 2009
AS 10 is mandatory for all the companies and big indutrial and commercial enterprises. It is not mendatory for prop and partnership firms.
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