Earlier notification dated 31/3/2009 issued by MCA and further amended on 11/05/2011 is now amended again to extend the last date of such capitalisation till 31/03/2020 and to include the enterprises who did not earlier excersiced the option to capitalise the exchange gain / loss.
Analysis of this notification :
1. Enterprise who have already excercised the option will have to continue the same till 31/3/2020.
2. Enterprise who did not earlier excercise the option can now excercise (such excercise to be irrevocable) from FY 11-12 onwards (not from 7th December, 2006 as mentioned in earlier notification) till 31/3/2020.
3. Many enterprises who didnot excercise the option will now think of going for it looking at the sharp devaluation of Rupee against other currencies. #pdf
CAclubindia
