What is the treatment of foreign exchange loss or gain on other than capital assets under income tax act?
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Forex
Replies (4)
it will be entered in p&l account.....and allowable one
but under which section it is deductible?
i think it is deductible under sec 37 i.e. general deductions,rest i m not sure
but it is allowable one that is confirmed to me..........
thanx
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