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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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        Case ID :

        RBI Reference Rate for US $

        August 18, 2017

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        The Reserve Bank of India’s Reference Rate for the US Dollar is ₹ 64.1048 on August 18, 2017.

        The corresponding rate for the previous day (August 16, 2017) was ₹ 64.2428.

        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

        August 16, 2017

        August 18, 2017

        1 EUR

        75.3761

        75.2078

        1 GBP

        82.6162

        82.6183

        100 YEN

        58.01

        58.63

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

        Ajit Prasad
        Assistant Adviser

        Reference exchange rate determines rupee valuations and produces derived rates for major currencies and the SDR. Publication of a central bank reference exchange rate for the US dollar establishes the benchmark rupee value used to derive other currency quotes and the SDR rupee rate. The Reserve Bank announced the US dollar reference rate and, using that rate with middle cross currency rates, published the derived rupee exchange rates for the euro, pound sterling and Japanese yen.
                          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 exchange rate determines rupee valuations and produces derived rates for major currencies and the SDR.

                                Publication of a central bank reference exchange rate for the US dollar establishes the benchmark rupee value used to derive other currency quotes and the SDR rupee rate. The Reserve Bank announced the US dollar reference rate and, using that rate with middle cross currency rates, published the derived rupee exchange rates for the euro, pound sterling and Japanese yen.





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

                                Topics

                                ActsIncome Tax
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