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foreign exchange transaction

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(Querist)
03 August 2010 is it require to book foreign exchange gain or loss on 31st march if advance payment is made & liability is not going to change even after 31st march to foreign supplier
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
03 August 2010 Yes u have to adjust the amount paid as per closing rates as at 31.03.2010.

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