Accounting standard 11
This query is : Resolved
09 February 2015
Sir
Ours is a Chit Fund Company and a customer abraod wants join a chit in our company.
But the monthly installment payment made by him in foeign currency.
Please let me know how to treat the same in accounting procedure
This is one and only foreign transaction having us
Please kindly help
Thanking you
Ours is a Chit Fund Company and a customer abraod wants join a chit in our company.
But the monthly installment payment made by him in foeign currency.
Please let me know how to treat the same in accounting procedure
This is one and only foreign transaction having us
Please kindly help
Thanking you
CA R SEETHARAMAN
(Expert)
09 February 2015
If you are not going to bear any exchange difference, account all receipts and payment on actual Indian currency received/paid.
If you are going to bear the exchange differences, account the difference gain/loss to P&L account.
If you are going to bear the exchange differences, account the difference gain/loss to P&L account.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- EPF ECR NEW FILE SEP 17TH 2026
- PTRC Show Cause Notice on Email
- Capital Gail Exemption Certificate
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- TAX AUDIT ON PROFESSIONAL INCOME
- Oct 2025 Invoices
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Capitalgain tax purposes for valuation report compulsory
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- EPF ECR NEW RULES Sep 17th 2026
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Unable to File TDS Q2 Return – New TRACES Portal Error
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
