25 August 2009
whether income tax will be paid on revaluation of land in a ltd company. it its value increases from 100 lacs to 200 lacs.and what will be its effect on its sale time.
25 August 2009
Not taxable as only revalutation not sale, and not credit to p & l a/c but to revaluation reserve a/c. No deduction of revaluation allowed
CAclubindia
