01 July 2015
For the purpose of deduction of tax at source on any income payable in foreign currency, the rate of exchange for the calculation of the value in rupees of such income payable to an assessee outside India shall be the telegraphic transfer buying rate of such currency as on the date on which the tax is required to be deducted at source adopted by the State Bank of India
No such rate is available on the SBI Website. How is this practically followed then. Does anyone considers the SBI’s Telegraphic Transfer Buying Rate?
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