wouldn't think anyone is going to challenge this accounting practice by the corportes..this way, profits are inflated, they can save on tax as well, with higher depreciation..and if the assets are devalued in case of a rate upswing, its fair accounting, yeah ? ( whether that would happen is another Q) so why would anyone want to be a wet blanket, here ?
RE:Forex Loss Treatment
by ramabhadranS on Aug 06, 2008 12:26 PM Permalink
yOU CANT SAVE TAXES BY CHARGING HIGHER DEPRECIATION SIR. DEPRECIATION IS ADDED BACK TO COMPUTE TAXABLE PROFITS.
