RAHUL (Student CA Final ) (377 Points)
07 December 2015Where can I find SBI TT Buying rate for Saudi Riyal for 31st December, 2014. If it isn't directly quoted, then how do i create a cross rate?
My client lives in Muscat, Saudi Arabia and received salary there from December, 2014 to March, 2015.
Refer rule 26, of the Income Tax Rules.
Any help would be appreciated.
Nikhil Kaushik
(Fellow CA)
(85093 Points)
Replied 07 December 2015
take the saudi riyal conversion rates to Dollar for the corresponding dates and then use Dollar rupee TT Buying rates. See if SAMA's website provides old rates in its archieve.
RAHUL
(Student CA Final )
(377 Points)
Replied 07 December 2015
SAMA's website?
From where do I take the dollar/ riyal rate. It will different for different exchages.
Nikhil Kaushik
(Fellow CA)
(85093 Points)
Replied 07 December 2015
SAMA is the Saudi Arabian central bank
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