https://www.taxtmi.com/acts?id=3798 The rate of exchange for computing the rupee value of income payable in foreign currency for deduction of tax at source is the telegraphic transfer buying rate of that currency on the date tax is required to be deducted under Chapter XVIIB. The rule applies to payments to an assessee outside India, to a Unit in an International Financial Services Centre, and to a payment by such a Unit to an assessee in India. Telegraphic transfer buying rate means the State Bank of India's rate for buying the foreign currency, having regard to Reserve Bank of India guidelines. en-us Sat, 19 Jan 2008 22:45:54 +0530 Tue, 19 May 2026 18:18:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=3798 The rate of exchange for computing the rupee value of income payable in foreign currency for deduction of tax at source is the telegraphic transfer buying rate of that currency on the date tax is required to be deducted under Chapter XVIIB. The rule applies to payments to an assessee outside India, to a Unit in an International Financial Services Centre, and to a payment by such a Unit to an assessee in India. Telegraphic transfer buying rate means the State Bank of India's rate for buying the foreign currency, having regard to Reserve Bank of India guidelines. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=3798