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Forex Gain/Loss

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If a company is a trading company for which import and export are routine transactions then Forex gain on such transactions is shown in P and L under which head. Whether Revenue from Operations or Other Income...?

Provided company has not to bear any forex loss on such transactions.
Replies (2)
under other income
Exchange gain/loss arising on foreign currency transactions and translation shall be recognised in the Statement of Profit or Loss on a basis. This means if there is net income, it is recognized in Other Income and in case there is net expense, it is recognized in Other expenses.


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