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FTC entry at what value

TDS 223 views 1 replies

Hello Friends,

We have received a statement showing our tax is withheld, deducted by the US entity.

Say it is $1,

At what value to record this FTC

Statement of Nov.

Amount received in Dec

 

Thank you,

Roopali

 

Replies (1)
For the purpose of conversion of foreign currency to INR Telegraphic Transfer Buying Rate (TTBR) on the last date of the previous month in which tax is deducted or paid in such country

Telegraphic Transfer Buying Rate - Rate adopted by SBI for buying such currency

if tax deducted in November then Rate as on last day of November


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