Query on forex treatment

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Chartered Accountant
29 Points Posted on 27 April 2010

Hi,

Got a doubt on forex treatment. Suppose a company remits 1 lac USD @ Rs. 40/USD  to its subsidiary located acroad as share application money and part of it , say 0.5 lac  USD was refunded by the subsidiary @ Rs. 45 /USD... What is the accounting treatment for the exchange gain.

regards,

 

Rajesh G

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On 27 April 2010 at 12:33 Report
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CA M. com
10823 Points Posted on 27 April 2010
I think, such gain should go to normal GAIN ON FOREIGN EXHANGE FLUCTUATION A/C
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On 27 April 2010 at 12:52

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