Changes in revaluation surplus

Changes in revaluation surplus(Ind AS 38 – ‘Intangible Assets’) According to Para 87 of Ind AS 38- ‘Intangible Assets’, the cumulative revaluation surplus included in
equity may be transferred directly to retained earnings when the surplus is realised. Therefore, reclassification adjustments do not arise on changes in revaluation surplus recognised in accordance with Ind AS 38. As per the requirement of Schedule III they are presented as “Items that will not be re-classified to profit or loss.”
As per first proviso to sub-section (2A) revaluation reserve credited/ debited to other comprehensive income shall not be adjusted in the book profit in the year in which it is credited or debited.

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