Business & Profession computation

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213 Points Posted on 20 November 2020
Suggest Income Tax Treatment on the following Transaction which are shown as other operating income on P &L credit side (as per IND AS)

1.Gain on Fair value of Investment in mutual fund

2. Gain on Ex. Rate difference regarding capital expenditure
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On 20 November 2020 at 17:01 Report
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This discussion explores the income tax treatment for gains arising from the fair value of mutual fund investments and exchange rate differences on capital expenditure, as reported under IND AS. It questions how to reduce business income by classifying these as exempt income or other head income, referencing specific sections and schedules for disclosure.

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16 Points Posted on 20 November 2020
Gain on fair value on investment reduce in normal coi no impact in mat and gain on exchange rate difference reduce from normal coi no impact in mat and forex gain on fixed assets to be reduced from fixed assets as per section 43A
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On 20 November 2020 at 20:12
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213 Points Posted on 20 November 2020
How to reduce business income as exempt income or other head income?
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On 20 November 2020 at 20:17
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16 Points Posted on 20 November 2020
As exempt income under no.5a 5b or 5c reduce and disclose in schedule exempt income
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On 20 November 2020 at 20:19
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213 Points Posted on 20 November 2020
Thanks jayeshbhai

Mehul Patel 9998068545 at Ahmedabad
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On 20 November 2020 at 20:33

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