Conversion rate for overseas salary
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 July 2011
Good Day
Please clarify the following
When a Salary Assessee gets salary abroad for a part of the financial year, at which rate the same should be converted - the prevailing rate on the date of receipt of overseas salary or the last of the relevant financial year
Please clarify the following
When a Salary Assessee gets salary abroad for a part of the financial year, at which rate the same should be converted - the prevailing rate on the date of receipt of overseas salary or the last of the relevant financial year
18 July 2011
Salary should be converted at the 'telegraphic transfer buying rate' as on the last day of the month preceeding the month in which salary is due,ie., month to month conversion is required.
TTBR is the exchange rate adopted by SBI for buying such currency.
TTBR is the exchange rate adopted by SBI for buying such currency.
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