Exchange GAIN/LOSS

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 July 2010 Dear All,

Cna you please let me know in case of reinstatement of creditors/debtors whether exchange gain/loss is allowable under income tax act i.e. Tax audit...

CA Sanat Pyne

CA Sanat Pyne (Expert)
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23 July 2010 Yes as exchange gain is taxable loss will also be allowable.

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