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Dr. Vinok K. Singhania on the Income-tax Act, 1961
  • Treatment of Forex Fluctuation covered in Para 46A of AS-11

    by Gopal on Wednesday, August 24, 2016 at 03:37 PM

    Relevant years: A.Y. 2013-14 to 2016-17 A company has obtained a loan from foreign country to obtain an asset in India. Loss/income on foreign fluctuation is capitalized/decreased in/from value of asset purchased as per Parahraph 46A of AS-11. The asset purchased is in India, Hence I don't think if Sec. 43A will be applicable. What will be treatment for such foreign fluctuation in Income tax Act (both Unrealised and realised)? Regards and Thanks.

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