EASYOFFICE
EASYOFFICE

Chargeability of Forward Contract Profits / Losses

This query is : Resolved 

24 June 2008 If a trading / manufacturing company has entered into a forward currency contract for realising sales revenue from the bankers, the profit / loss generated from such transactions and how to treat such income or loss either under the head "Business Income" or "Income from Speculation Business"

24 June 2008 shud not come under speculation if you will receive delivery of foreign currency at the end of the contract. the loss/gain simply shud be exchange gain/loss and debited/credited to P&L.

16 June 2023 "Sorry, I am not a featured member."

For featured members contact....

https://www.caclubindia.com/catalogue/featured.asp




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries