Deduction for foreign exchange gain

[ANIL BEDI]

WHETHER FOREIGN EXCHANGE GAIN ELIGIBLE FOR DEDUCTION U/S 10B OR U/S 80HHC. IF YES, PROVIDE SOME HIGH COURT OR SUPREME COURT JUDGMENT.

AI Summary

Eligibility of Forex Gains for Deductions Under Sections 10B or 80HHC of Income Tax Act Explained A query was raised about the eligibility of foreign exchange gains for deductions under sections 10B or 80HHC of the Income Tax Act. One response clarified that exemption under section 10B is available until the assessment year 2010-11, while the exemption under section 80HHC has been withdrawn. Another respondent suggested conducting further research online due to the complexity of the topic.