Forex Derivative Losses Recognized as Legitimate Business Expenses; Deductible u/s 37(1) of Income Tax Act.

Forex Derivative Losses Recognized as Legitimate Business Expenses; Deductible u/s 37(1) of Income Tax Act. https://www.taxtmi.com/highlights?id=34498 Forex derivative loss - speculative and notional loss - The losses on account of foreign exchange contracts are bonafide expenses incurred in furtherance of legitimate business interests of the assessee and are to be allowed as deduction under section 37(1) as such - AT en-us Mon, 24 Apr 2017 07:23:49 +0530 Mon, 24 Apr 2017 07:23:49 +0530 TaxTMI RSS Generator Forex Derivative Losses Recognized as Legitimate Business Expenses; Deductible u/s 37(1) of Income Tax Act. https://www.taxtmi.com/highlights?id=34498 Forex derivative loss - speculative and notional loss - The losses on account of foreign exchange contracts are bonafide expenses incurred in furtherance of legitimate business interests of the assessee and are to be allowed as deduction under section 37(1) as such - AT Highlights Income Tax Mon, 24 Apr 2017 07:23:49 +0530 https://www.taxtmi.com/highlights?id=34498