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Exchange gain or loss

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(Querist)
15 September 2016 Whether Foreign exchange gain or loss is allowed for the income tax purposes?
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CA ALOK KUMAR

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CA ALOK KUMAR (Expert)
15 September 2016 Yes, exchange fluctuations - Either gain or loss is part of Profit & Loss account.
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Amol S Joglekar

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Amol S Joglekar (Expert)
16 September 2016 yes, if it is revenue, it is allowed under income tax but not If the same is capital.
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