https://www.taxtmi.com/circulars?id=9168 The conversion of foreign currency incomes for tax purposes must use the telegraphic transfer buying rate adopted by the State Bank of India on the specified date in the amended rule; the amendment applies to incomes accruing, arising or received on or after the rule's operative date, while pre-amendment rates apply to earlier incomes. The earlier administrative instruction is modified where inconsistent with the rule, and reopening of assessments may be undertaken where rectification is unavailable. en-us Fri, 10 Mar 1978 00:00:00 +0530 Thu, 02 Jun 2011 17:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9168 The conversion of foreign currency incomes for tax purposes must use the telegraphic transfer buying rate adopted by the State Bank of India on the specified date in the amended rule; the amendment applies to incomes accruing, arising or received on or after the rule's operative date, while pre-amendment rates apply to earlier incomes. The earlier administrative instruction is modified where inconsistent with the rule, and reopening of assessments may be undertaken where rectification is unavailable. Circulars Income Tax Fri, 10 Mar 1978 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9168