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of <h1>FCTR Balance from Non-Integral Foreign Operations Recognized in AY 2017-18 per ICDS VI; Taxability Debate Continues.</h1> The Foreign Currency Translation Reserve (FCTR) balance as of April 1, 2016, related to non-integral foreign operations, should be recognized in the previous year relevant to the assessment year 2017-18, as per ICDS VI, provided it wasn't recognized in prior income computations. The taxability of this balance is debatable since no real income is earned from conversion. The prescribed treatment under ICDS VI may not apply to earlier years where the amount was not taxable, necessitating professional judgment for accurate assessment.
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