Net worth definition clarifies computation and exclusion of asset revaluation for income tax net worth calculations. For section 50B purposes, net worth is the aggregate book value of an undertaking's total assets less the book value of its liabilities as shown in its ... Summary
Net worth definition clarifies computation and exclusion of asset revaluation for income tax net worth calculations.
For section 50B purposes, net worth is the aggregate book value of an undertaking's total assets less the book value of its liabilities as shown in its books of account; any increase in asset value due to revaluation must be ignored in computing net worth.
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