Exchange GAIN/LOSS
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 July 2010
Dear All,
Cna you please let me know in case of reinstatement of creditors/debtors whether exchange gain/loss is allowable under income tax act i.e. Tax audit...
Cna you please let me know in case of reinstatement of creditors/debtors whether exchange gain/loss is allowable under income tax act i.e. Tax audit...
CA Sanat Pyne
(Expert)
23 July 2010
Yes as exchange gain is taxable loss will also be allowable.
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