Can someone explain the income tax implication for exchange gains?

asked May 5, 2016 in Income Tax by wmthushara (3,830 points)
In this year several companies recording huge amounts as exchange gains. Therefore I much appreciate if someone explains me the income tax effect on these exchange gains.

1 Answer

0 votes
answered Nov 2, 2016 by wmthushara (3,830 points)
Exchange gain or loss is considered as a part of business income if it is attributable to normal business activities.