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Foreign exchange loss arising out of foreign currency fluctuations is revenue expenditure and not capital expenditure

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  • Foreign exchange loss arising out of foreign currency fluctuations is revenue expenditure and not capital expenditure
Posted onon February 24, 2020February 24, 2020

Tenet Tax Daily February 24 2020

By tenettax-team
Corporate Tax

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Any profits/loss arising on settlement of foreign exchange contracts should be adjusted against cost of concerned capital asset
Royalty payment made to secure manufacturing technical know-how is revenue expenditure

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