Chapter XII-DA - SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC)
Part C - Procedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM)
Chapter XX-B - REQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT)
Taxation of foreign exchange fluctuation: exchange gains and losses treated as income or loss under prescribed ICDS rules. Gains or losses from changes in foreign exchange rates are to be treated as income or loss and must be computed in accordance with the income computation and disclosure standards; this applies to all foreign currency transactions, including monetary and non monetary items, translation of foreign operations' financial statements, forward exchange contracts, and foreign currency translation reserves, subject to interaction with other special valuation provisions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Taxation of foreign exchange fluctuation: exchange gains and losses treated as income or loss under prescribed ICDS rules.
Gains or losses from changes in foreign exchange rates are to be treated as income or loss and must be computed in accordance with the income computation and disclosure standards; this applies to all foreign currency transactions, including monetary and non monetary items, translation of foreign operations' financial statements, forward exchange contracts, and foreign currency translation reserves, subject to interaction with other special valuation provisions.
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