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treatment of exchange diff.

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 December 2010 as per sec. 43A which is inapplicable in respect of asset purchased in India by foreign borrowings. what will be the treatment of foreign exchange loss/gain in respect of asset purchased in India by foreign borrowing

whether it should be treated as capital loss/gain
or
whether such exchange should be Dr/Cr in p&l a/c or

any other treatment
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CA Manikandan.A.V

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CA Manikandan.A.V (Expert)
16 December 2010 You have to capitalise such difference in exchange.
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