Hello
What is the full form of TTBR in capital gain.? and what does it mean
Thanks in Advance.
CA Sumit Arora (CA) (1410 Points)
14 September 2009Hello
What is the full form of TTBR in capital gain.? and what does it mean
Thanks in Advance.
CA. Megha Topiwala
(Job)
(1534 Points)
Replied 14 September 2009
hey... where hv u heard this... i had never heard this b4.... reply soon... if any1 knws... let me too knw...
amiya
( )
(114 Points)
Replied 14 September 2009
TTBR is Telegraphic Tramsfer Buying Rate.
The NRI is protected against the Exchange Rate Risk. The method of conversion into foreign currency is specified by Sec 115A. Accordingly the rate of exchange shall be : - For converting cost fo acquition of the capital asset the average of TTBR and TTSR ( Telegraphic Tramsfer Selling Rate) as on the date of acquition.
Max Payne
(employed)
(2569 Points)
Replied 14 September 2009
To add something to what amiya said,
u cant claim indexation benefit when u use this method in case of NRIs
-proviso to to section 48
Aarush
(Delhi)
(1566 Points)
Replied 15 September 2009
Telegraphic Transfer Buying Rate(TTBR)
Telegraphic Transfer Selling Rate (TTSR), used at the time of conerting of indian rupees in to forex {Average rate}
{TTBR+TTSR)/2}
reagrds
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