Conversion rate

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riddhi (Querist)
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27 November 2015 For Dollar Ruppee conversion rate from where do i take the rate? If the transaction is on Weekend then which rate to take?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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27 November 2015 you need to take SBI TT buying rate. for transactions for which money has not yet been received and converted, you may take SBI TT buying rate at the end of the month. For the remaining currencies actual amount received in INR should be considered.

refer 218 ITR 384 (SC)

riddhi

riddhi (Querist)
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30 November 2015 Can i take RBI Reference Rate common for all transactions?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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30 November 2015 you need to SBI TT rate.

the same is available at http://www.eximin.net/Forexdetails.aspx

riddhi

riddhi (Querist)
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30 November 2015 Thanks. I need one help. DO you what is TRS? A US citizen has been called to India by Reliance company for consulatation and they need PAN CARD + TRS