Part DCA - Safe Harbour Rules for income referred to in clause (i) of sub-section (1) of section 9 chargeable to tax under the head (From Rule 10TI to Rule 10TIC)
Foreign currency income conversion rules set the telegraphic transfer buying rate and specify the relevant conversion date. Income expressed in foreign currency is converted into rupees at the telegraphic transfer buying rate on the specified date, with the specified date varying by the head of income, including salaries, interest on securities, house property, business income, dividends, and capital gains. For certain foreign-currency income subject to tax deduction at source, the specified date is the date on which tax was required to be deducted. The rule does not apply to certain income received or brought into India before the specified date in accordance with the applicable foreign exchange law.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Foreign currency income conversion rules set the telegraphic transfer buying rate and specify the relevant conversion date.
Income expressed in foreign currency is converted into rupees at the telegraphic transfer buying rate on the specified date, with the specified date varying by the head of income, including salaries, interest on securities, house property, business income, dividends, and capital gains. For certain foreign-currency income subject to tax deduction at source, the specified date is the date on which tax was required to be deducted. The rule does not apply to certain income received or brought into India before the specified date in accordance with the applicable foreign exchange law.
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