Forex Loss
This query is : Resolved
27 April 2011
Dear's
If Forex Loss due to purchase of machinery from USA.
Pls. Give A Entry and above loss can a take a part of capitailisation.
Kindly Advice To Me.
------
Thanks
Arun
If Forex Loss due to purchase of machinery from USA.
Pls. Give A Entry and above loss can a take a part of capitailisation.
Kindly Advice To Me.
------
Thanks
Arun
27 April 2011
First of all whether the loss is due to repayment of loan in foreign currency. If yes, then as per AS-11 the same needs to be charged to P&L. However, there is a difference of opinion on the same. As per Sch VI the same needs to be capitalised.
Hence if the amount is not material you can charged off the same.
Hence if the amount is not material you can charged off the same.
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