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Income in usd | what is conversion rate?

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(Querist)
20 July 2016 How is the conversion rate USD-INR decided for filing tax returns, incase of income in USD?

Thanks,
Kapil
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Neelabh Pareek

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Neelabh Pareek (Expert)
20 July 2016 Please confirm the source of income.
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Kapil Khanna

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Kapil Khanna (Querist)
21 July 2016 Capital Gains on Equity shares investment under Liberalized remittance scheme.
NOTE: The gains are in USD and not yet been converted to INR (repatriated).

So how do I know what rate to convert at, when the duration of transactions is between Apr 1, 2015 and Mar 31, 2016.



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Neelabh Pareek

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Neelabh Pareek (Expert)
21 July 2016 Please also share the Country in which you got Capital gain as well as you residency status in india.
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Kapil Khanna

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Kapil Khanna (Querist)
22 July 2016 Capital Gain USD in USA.
Resident Indian - Overseas Investment under LRS (Liberalized Remittance Scheme).
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Kapil Khanna

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Kapil Khanna (Querist)
30 July 2016 Please respond to the last query.

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