Foreign-currency income conversion uses TTBR on income-specific dates, with separate TDS timing and IFSC payment coverage.

Foreign-currency income is converted into Indian rupees using the Telegraphic Transfer Buying Rate applicable on the specified date, which varies according to the nature of income. Where income is subject to TDS, the relevant date is when tax is required to be deducted. Foreign-currency income for TDS is converted at the TTBR prevailing on the deduction date, or the last published TTBR if no rate is published. The framework applies to payments involving assessees outside India and IFSC Units.

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