banner_ad

Foreign exchange gain or loss

Others 676 views 2 replies

Hi friends,

We raise invoice to foreign comp,in turn money would be deposited into EEFC a/c in India

Suppose

we raise invoice on 01.05.11 - Exchange rate 45.89

Customer deposit the money directly into EEFC a/c  on 01.06.11 - Exchange rate 45.00

We convert that foreign currency into indian currency on 8.06.11  - Exchange rate 46.00

Which date difference in exchange rate do we need to consider for calculating foriegn exchange gain or los?

Replies (2)

Dear Varalakshmi,

Its profit, since you have raised invoice for Rs. 4589 and you will be receiving Rs.4600. You need to consider the gain arising out of the transaction.

Experts,

Correct me if I am wrong.

Keep smiling

 

Balaji

But I heard that it is the difference between date of invoice and date of deposit into EEFC a/c.

i.e it is loss...

Please clarify me


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details