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Income Tax

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VAIBHAB JAIN

VAIBHAB JAIN (Querist)
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01 August 2009 I want to know the treatment of government notification on AS-11 regarding capitalization of foreign exchange gain or loss in tax audit, whether it will be capitalized in fixed assets considered for tax audit purpose or not

Jitender (Expert)
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02 August 2009 notification on as-11 is not linked with tax audit.

But the teatment suggested by that notification is same as per income tax act ,i.e, capitalize the exchange fluctuation.

CA Bosu babu

CA Bosu babu (Expert)
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02 August 2009 not all exchage fluctuations.....

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