TaxTMI 
TaxTMI 
TaxTMI 
Dear sirIf in the second half of the previous year liability is increased on exchange fluctuations under section 43A then whether second proviso to section 32(1)(ii) shall apply or not.
Depreciation and S. 43A
Hardeep Singh
Understanding Section 32(1)(ii) Impact on Exchange Fluctuations Under Section 43A in Income Tax Act A user inquired about the application of the second proviso to Section 32(1)(ii) of the Income Tax Act when liability increases due to exchange fluctuations under Section 43A in the second half of the previous year. The response suggested consulting a practicing Chartered Accountant for high-value amounts and welcomed input from other experts to enhance knowledge sharing. (AI Summary)