Clarification regarding allowing losses on account of forex derivatives

Last updated: 25 March 2010

Clarification regarding allowing losses on account of forex derivatives Instruction No. 03/2010 Dated 23-3-2010 Foreign Exchange derivative transactions entered into by the corporate sector in India have witnessed a substantial growth in recent years. This combined with extreme volatility in the foreign exchange market in the last financial year is reported to have resulted in substantial losses to an assessee on account of trading in forex-derivatives. A large number of assesses
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