Foreign-currency income conversion uses prescribed TTBR dates, while TDS conversion applies on the deduction date.

Foreign-currency income is converted into Indian rupees using the Telegraphic Transfer Buying Rate applicable on a specified date determined by the nature of income. Foreign-currency income subject to tax deduction at source is converted at the rate applicable on the deduction date, with the last published rate available where no rate is published that day. The tax-deduction rule applies to payments involving assessees outside India and International Financial Services Centre units, including payments by such units to assessees in India.

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