https://www.taxtmi.com/acts?id=51573 Where exchange-rate movement alters an assessee's liability in Indian currency on payment for an imported business asset, the variation in liability is computed as A = B - C (B: payment in Indian currency at payment; C: liability in Indian currency at acquisition), excluding parts met by others. That variation is added to or deducted from the asset's tax-recognised value-actual cost, capital expenditure, or cost of acquisition-and, if a forward contract with an authorised dealer covers the liability, the contract rate governs computation for the covered portion. en-us Wed, 13 Aug 2025 18:52:20 +0530 Mon, 25 Aug 2025 11:15:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=51573 Where exchange-rate movement alters an assessee's liability in Indian currency on payment for an imported business asset, the variation in liability is computed as A = B - C (B: payment in Indian currency at payment; C: liability in Indian currency at acquisition), excluding parts met by others. That variation is added to or deducted from the asset's tax-recognised value-actual cost, capital expenditure, or cost of acquisition-and, if a forward contract with an authorised dealer covers the liability, the contract rate governs computation for the covered portion. Act-Rules Income Tax Wed, 13 Aug 2025 18:52:20 +0530 https://www.taxtmi.com/acts?id=51573