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Former Member
Sep 27, 2016 at 06:14 AM

Asset revaluation for one time

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We came a requirement where asset need to be revaluate with fair value for one time from 01.04.2015 as on gross block and Depreciation will be charged on new gross block for the year 2015. But the entry should be in year 2016 as we can not touch the balance sheet for 2015 and also the depreciation will be posted in 2016, Sep period in cumulative i.e from 01.04.2015 as effective.

I have gone through various post on scn discussing about revaluation area , but my requirement is to post the difference in year 2016 for sep period with effect as april, 2015.