Foriegn exchange loss

bhupeshajmera (Manager - Taxation ) (47 Points)

02 February 2011  

I  HAD PURCHASED  $500 A MONTH BACK FOR25000, NOW I HAVE SOLD THIS AT 24600 . THEREFORE INCURRING A LOSS OF400 . THIS IS MY FIRST AND ONLY TRANSACTION OF THIS KIND. KINDLY LET ME KNOW ITS TAX IMPLICATION ? WHETHER IT IS SPECULATIVE BUSINESS GAIN OR NOT