whether exchange gain is taxable in india
This query is : Resolved
CA Vikas Agrawal
(Querist)
02 July 2010
we have a client in india, he sent 1.00 lac Rs. out side india as advance to a person, now this 1.00 lac Rs. return in india and my client gain due fluctuation in exchange rate.
my question is that if it is taxable then under which head it will be taxable,
kindly provide the solution with reference to section and subsection of law.
my question is that if it is taxable then under which head it will be taxable,
kindly provide the solution with reference to section and subsection of law.
02 July 2010
it should be taxable as other sourse
02 July 2010
as th receipt of income is in india
CA Vikas Agrawal
(Querist)
02 July 2010
dear prakash ji,
thank you for reply, can you refer me the respective section or subsection releted to this issue
thank you for reply, can you refer me the respective section or subsection releted to this issue
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