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Is foreign exchange loss allowed under income tax?

By IndianMoney , 5 months ago

1. ICDS don't segregate the Exchange Gain/loss between revenue nature and capital nature. 2. The same simply provides that except the Exchange Gain/loss dealt in by Section 43A of the Act, all other Exchange gain/loss arises on monetary items (cash, receivables, payables etc.) shall be allowed under the Act.

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