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foreign exchange treatment

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05 June 2009 whether foreign exchange fluctuation treated as capital nature, on outstanding f.c.loan(long term) allowed as deduction under the provisions of income tax act? is it mandatory to book the f.c.difference on 31-03-2009?
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CA.Varun Ranjan

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CA.Varun Ranjan (Expert)
05 June 2009 no it would be not allowed, however it would be adjusted in block os assets for the purpose of dep.

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