What is the taxability of opening balance as on 1st day of April 2016 of Foreign Currency Translation Reserve (FCTR) relating to non-integral foreign operation, if any, recognised as per Accounting Standards (AS) 11.

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..... andards (AS) 11.
ICDS VI : Effects of Changes in Foreign Exchange Rates Income computation and disclosure standards
Income Tax
Manuals
Dated:- 30-8-2017
Manual - ICDS VI : Effects of Ch .....

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..... ersion. Further the treatment as prescribed in ICDS VI cannot apply to earlier years where the amount may not be taxable. Hence one will have to take appropriate professional judgment.
TMI Short N .....

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