What is the treatment of foreign exchange loss or gain on other than capital assets under income tax act?
4 Replies
madhur gupta
(student/article )
(1022 Points)
Replied 16 December 2009
it will be entered in p&l account.....and allowable one
Neha.
(Article Clerk)
(71 Points)
Replied 16 December 2009
but under which section it is deductible?
madhur gupta
(student/article )
(1022 Points)
Replied 21 December 2009
i think it is deductible under sec 37 i.e. general deductions,rest i m not sure
but it is allowable one that is confirmed to me..........
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