Rent received in foreign currency
This query is : Resolved
07 November 2014
respected sir, i want to ask that in case of salaried person having rent income from abroad is taxable under income tax act. but what should be exchange rate for the same...whether it should be closing rate as on 31st march....(AS-11)
07 November 2014
you need to convert the income on the basis of exchange rate on the date of transaction
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