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Chargeability of Forward Contract Profits / Losses

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24 June 2008 If a trading / manufacturing company has entered into a forward currency contract for realising sales revenue from the bankers, the profit / loss generated from such transactions and how to treat such income or loss either under the head "Business Income" or "Income from Speculation Business"
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CA. Yayati Tyagi

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CA. Yayati Tyagi (Expert)
24 June 2008 shud not come under speculation if you will receive delivery of foreign currency at the end of the contract. the loss/gain simply shud be exchange gain/loss and debited/credited to P&L.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
16 June 2023 "Sorry, I am not a featured member."

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