02 July 2010
we have a client in india, he sent 1.00 lac Rs. out side india as advance to a person, now this 1.00 lac Rs. return in india and my client gain due fluctuation in exchange rate.
my question is that if it is taxable then under which head it will be taxable, kindly provide the solution with reference to section and subsection of law.
CAclubindia
