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AI Drafter ✕

Generate professional replies to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.

Step 1 – Issue Identification & Review

The AI analyses your query, notice, order, or uploaded documents and identifies the key issues involved.

• Review the issues identified by the AI
• Add, edit, remove, or refine issues as required


Step 2 – Draft Generation

Once you approve the issues, the AI performs issue-wise legal research and prepares a structured draft response.

• Relevant statutory provisions
• Judicial precedents and Supreme Court, High Court and other citations
• Issue-wise legal analysis
• Practical arguments and supporting content
• Professionally structured draft ready for further review.

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        FEMA & RBI

        RBI Reference Rate for US $

        April 21, 2016

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        The Reserve Bank of India’s Reference Rate for the US Dollar is ₹ 66.2930 on April 21, 2016.

        The corresponding rate for the previous day (April 20, 2016) was ₹ 66.2406.

        Based on the reference rate for the US Dollar and the middle rates of the cross-currency quotes, the exchange rate of EUR, GBP and JPY against the Rupee are given below:

        Currency

        Date

        April 20, 2016

        April 21, 2016

        1 EUR

        75.2758

        74.8978

        1 GBP

        95.2076

        95.1437

        100 YEN

        60.82

        60.48

        Note : The SDR-Rupee rate will be based on the reference rate.

         

        Ajit Prasad

        Assistant Adviser

        Press Release: 2015-2016/2463

        Reference rate for US dollar updated, prompting adjusted euro, pound and yen rupee exchange rates tied to that benchmark. Publication of a Reference Rate for the US dollar establishes the official rupee benchmark for the date and records its change from the prior day; using the middle rates of cross currency quotes, the notice supplies the corresponding rupee exchange rates for the euro, British pound and Japanese yen, and states that the SDR Rupee rate will be based on the published reference rate.
                          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.

                                Reference rate for US dollar updated, prompting adjusted euro, pound and yen rupee exchange rates tied to that benchmark.

                                Publication of a Reference Rate for the US dollar establishes the official rupee benchmark for the date and records its change from the prior day; using the middle rates of cross currency quotes, the notice supplies the corresponding rupee exchange rates for the euro, British pound and Japanese yen, and states that the SDR Rupee rate will be based on the published reference rate.


                                Note: It is a system-generated summary and is for quick reference only.
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