Taxation of foreign exchange fluctuation - (New) Section 43 / (Old) Section 43AA

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Full Text of the Document

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.... of change in foreign exchange rates on foreign currency transactions shall be treated as income or loss, as the case may be, and • shall be computed as per the income computation and disclosure standards (ICDS VI) notified under section 276(2). [ section 43(1) ] • The provisions of section 43(1) shall be applicable to all foreign currency transactions, includin....