https://www.taxtmi.com/manuals?id=1147 Special provision for foreign exchange fluctuation applies where an assessee acquires a business or professional asset from outside India and the liability changes because of exchange rate variation. The variation is computed by comparing the Indian-currency liability at the time of acquisition with the amount actually paid later, excluding liability met by another person. The resulting increase or decrease is added to, or deducted from, the actual cost, capital expenditure, or cost of acquisition of the relevant capital asset. Forward contract hedging with an authorised dealer is also covered by reference to the contracted exchange rate. en-us Tue, 15 Sep 2015 11:31:00 +0530 Tue, 05 May 2026 15:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1147 Special provision for foreign exchange fluctuation applies where an assessee acquires a business or professional asset from outside India and the liability changes because of exchange rate variation. The variation is computed by comparing the Indian-currency liability at the time of acquisition with the amount actually paid later, excluding liability met by another person. The resulting increase or decrease is added to, or deducted from, the actual cost, capital expenditure, or cost of acquisition of the relevant capital asset. Forward contract hedging with an authorised dealer is also covered by reference to the contracted exchange rate. Manuals Income Tax Tue, 15 Sep 2015 11:31:00 +0530 https://www.taxtmi.com/manuals?id=1147