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
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
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Under construction property in ITR
- Gift of mutual fund units to daughter
- Upload Level ValidationITR3Category of Defect B/D
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Reporting of STCG on Property in ITR
- ITR-4 vs ITR 5
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
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
