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(Querist)
01 November 2009 For issuing form 15cb what exchange rate is to be used, exchange rate as on the date of invoice or on the date of remittence?

Kindly let me know as it is very urgent?
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CA. B.SRINIVASULU

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CA. B.SRINIVASULU (Expert)
01 November 2009 Exchange rate on the date of remittance.
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Manoj Kumar Joshi

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Manoj Kumar Joshi (Querist)
01 November 2009 Dear Sir,

Thank you very much for your prompt reply. but i still have a doubt. Does it mean that the certificate from CA is to be obtained on the date of remittance itself and not prior to that as how is it possible to know what is the exchange rate on a future remittance date.
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Manoj Kumar Joshi

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Manoj Kumar Joshi (Querist)
01 November 2009 Dear Sir,

Thank you very much for your prompt reply. but i still have a doubt. Does it mean that the certificate from CA is to be obtained on the date of remittance itself and not prior to that as how is it possible to know what is the exchange rate on a future remittance date.
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CA. B.SRINIVASULU

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CA. B.SRINIVASULU (Expert)
01 November 2009 When CA is issuing certificate he will issue taking into consideration the rate as on the date of issuing certificate with a word approximately (500usd=500*50=2500). When you are making the payment it may be 49 or 51 there is no problem. And he will mention in his certificate propable date of payment in between 1st and 7th of november.(like this).
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
01 November 2009 agree
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C.A.Amitabh Gupta

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C.A.Amitabh Gupta (Expert)
04 November 2009 Agreed
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