Treatment of foreign exchange fluctuation
This query is : Resolved
22 June 2012
what is the treatment for the Gain or loss arises from foreign exchange fluctuation on Purchases ?
Whether it is deducted or added to purchases or shown as separately in Profit & Loss A/c ?
Whether it is deducted or added to purchases or shown as separately in Profit & Loss A/c ?
23 June 2012
As per revised schedule VI, it has to be clasified as 'Other expense' or 'Other income' in the income statement.
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