Gain and Loss
Rajkumar Gutti (597 Points)
08 November 202425/10/24 To 31/10/24.
He incurred foreign expensesed 2000 US
from his own pocket ( He not get advance for tour )
We get reference of foreign exchange rate on currency rate website for the date of 31/10/24 & exchange usd in to INR
& give INR to our person.
Here we are not given advance, so we can not create foreign exchange gain / loss.
Is it this method correct or is it necessary to account for foreign exchange gain / loss
Pl guide