18 August 2013
Foreign Exchange fluctuation should be adjusted to the cost of Fixed Asset or not? Like a fixed asset is purchased on 10-8-13 on credit for $100 @ 60,its corresponding liability is discharged on 30-4-14.On 31-3-14 1$=Rs.62 and on 30-4-14 1$=Rs.61, kindly explain the treatment.
23 August 2013
And according to you, for income tax purposes,exchange difference to be adjusted from the date of purchase to date of settlement of liability.there is no relevance of rate of exchange on closing date i.e.31 march?Right? and what about Co act & AS-11?
CAclubindia
