FCNR DEPOSIT INTEREST EARNED REPORTING IN ITR

SUDHIR VARDHAN (BUSINESS HEAD IN UNIFIL LEBANON)   (35 Points)

21 June 2025  

MY SON IS A NRE AND HE HAS FCNR IN USD AND JPY CURRENCY. I WANT TO REPORT THEM IN EXEMPT INCOME IN RESPECTIVE CURRENCY. HOW CAN I REPORT THEM IN ITR-1 IN USD AND JPY CURRENCY OR DO I CONVERT THEM IN INR AT THE CLOSING RATE AS ON 31ST MARCH 2024