Rate of exchange for conversion into rupees of income expressed in foreign currency

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....in foreign currency, or received or deemed to be received by him or on his behalf in foreign currency, shall be the telegraphic transfer buying rate of such currency as on the specified date. (2) For the purposes of this rule- (a) "telegraphic transfer buying rate" shall have the meaning assigned to it in rule 207; and (b) (i) the "specified date" in respect of the nature of i....

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....ssessee. 4. Income chargeable under the head "Profits and gains of business or profession" in the case of a non-resident engaged in the business of operation of ships. Last day of the month, immediately preceding the month in which the income is deemed to arise in India. 5. Income by way of dividends. Last day of the month, immediately preceding the month ....