Section 29A in The Companies (Indian Accounting Standards) Rules, 2015
29A. An entity is permitted to designate a previously recognized financial liability as a financial liability at fair value through profit or loss in accordance with paragraph D19. The entity shall disclose the fair value of financial liabilities so designated at the date of designation and their classification and carrying amount in the previous financial statements.
Use of fair value as deemed cost[30 If an entity uses fair value in its opening Ind AS Balance Sheet as deemed cost for an item of property, plant and equipment, an intangible asset or a right-of-use asset (see paragraphs D5 and D7), the entity's first Ind AS financial statements shall disclose, for each line item in the opening Ind AS Balance Sheet:(a)the aggregate of those fair values; and(b)the aggregate adjustment to the carrying amounts reported under previous GAAP.]Use of deemed cost for investments in subsidiaries, joint ventures and associates
