CBDT Circular on Section 43(5) Of The Income-Tax Act, 1961 – Speculative Transactions – Clarification Regarding Allowing Losses On Account Of Forex Derivatives

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SECTION 43(5) OF THE INCOME-TAX ACT, 1961 – SPECULATIVE TRANSACTIONS – CLARIFICATION REGARDING ALLOWING LOSSES ON ACCOUNT OF FOREX DERIVATIVES INSTRUCTION NO. 03/2010, DATED 23-3-2010 Foreign Exchange derivative transactions entered into by the corporate sector in India have witnessed a substantial growth in recent years. This combined with extreme volatility in the foreign exchange market in…

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