Foreign Exchange Loss from Year-End Revaluation of Business Advances is Deductible for Tax Purposes.

Foreign Exchange Loss from Year-End Revaluation of Business Advances is Deductible for Tax Purposes. https://www.taxtmi.com/highlights?id=55616 Disallowance being the amount of exchange fluctuation loss provided at the year end on business advance received in foreign exchange - the exchange fluctuation loss arising on account of the revaluation of business advances on the close of the year by the assessee is allowable as deduction in the hands of the assessee - AT en-us Tue, 24 Nov 2020 10:40:46 +0530 Tue, 24 Nov 2020 10:40:46 +0530 TaxTMI RSS Generator Foreign Exchange Loss from Year-End Revaluation of Business Advances is Deductible for Tax Purposes. https://www.taxtmi.com/highlights?id=55616 Disallowance being the amount of exchange fluctuation loss provided at the year end on business advance received in foreign exchange - the exchange fluctuation loss arising on account of the revaluation of business advances on the close of the year by the assessee is allowable as deduction in the hands of the assessee - AT Highlights Income Tax Tue, 24 Nov 2020 10:40:46 +0530 https://www.taxtmi.com/highlights?id=55616