Income Tax
This query is : Resolved
VAIBHAB JAIN
(Querist)
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
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.
But the teatment suggested by that notification is same as per income tax act ,i.e, capitalize the exchange fluctuation.
CA Bosu babu
(Expert)
02 August 2009
not all exchage fluctuations.....
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