https://www.taxtmi.com/acts?id=45966 Where an assessee acquires an asset from outside India and a subsequent change in the Central Government recognised rate of exchange increases or reduces the liability (in Indian currency) to pay for the asset or to repay foreign currency borrowings incurred specifically to acquire it, the amount of that increase or reduction in the previous year is added to or deducted from the actual cost or capital expenditure and the resulting amount is to be treated as the actual cost or cost of acquisition for the relevant provisions; liabilities met by others are excluded and specified authorised dealer contract rates apply. en-us Mon, 09 Dec 2024 21:37:24 +0530 Mon, 09 Dec 2024 21:37:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=45966 Where an assessee acquires an asset from outside India and a subsequent change in the Central Government recognised rate of exchange increases or reduces the liability (in Indian currency) to pay for the asset or to repay foreign currency borrowings incurred specifically to acquire it, the amount of that increase or reduction in the previous year is added to or deducted from the actual cost or capital expenditure and the resulting amount is to be treated as the actual cost or cost of acquisition for the relevant provisions; liabilities met by others are excluded and specified authorised dealer contract rates apply. Act-Rules F. Acts / Amendment Acts Mon, 09 Dec 2024 21:37:24 +0530 https://www.taxtmi.com/acts?id=45966