exchange rate for TDS on Dollar outward remittance
This query is : Resolved
11 February 2010
What is the dollar exhange rate to be considered to make the TDS payment before actual remittance take place.
Some are of the view that it should be RBI RATE and other SBI RATE as of booking of liability.
For example month end date date for processing monthly salaries.
Kindly confirm what basis we should adopt to do TDS compliance.
Some are of the view that it should be RBI RATE and other SBI RATE as of booking of liability.
For example month end date date for processing monthly salaries.
Kindly confirm what basis we should adopt to do TDS compliance.
18 February 2010
Rate of exchange for the purpose of deduction tax at source on Income Payable in foreign courrency wll be TTBR of SBI as on the date on which tax is required to be deducted. Refer Rule 26 of Income Tax Rules.
Regards
Regards
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