AS 11 amended to treat repatriation of profits of non-integral foreign operation on its disposal

Any gain or loss arises on the disposal of a non-integral foreign operation by an entity is recognised in profit or loss in accordance with AS 11, The Effects of Changes in Foreign Exchange Rates. The Ministry of Corporate Affairs has amended para 32 of AS 11 according to which remittance from a non-integral foreign operation by way of repatriation of accumulated profits does not form part of disposal unless it constitutes return of the investment.

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