FCNR DEPOSIT INTEREST EARNED REPORTING IN ITR2

This discussion addresses how to report interest earned on FCNR deposits, specifically for USD and JPY, within the exempt income schedule of ITR2. It explores the correct method for converting foreign currency interest to INR, considering whether to use the closing conversion rate as of 31st March 2025, and where to source this rate (e.g., RBI website). The consensus leans towards using SBI TT rates or RBI rates for accurate disclosure.