Rate of exchange for the purpose of deduction of tax at source on income payable in foreign currency

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..... rce on any income payable in foreign currency, the rate of exchange for the calculation of the value in rupees of such income payable - (i) to an assessee outside India; (ii) to a Unit located in an International Financial Services Centre; (iii) by a Unit located in an International Financial Services Centre to an assessee in India, shall be the telegraphic transfer buying rate of such .....

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..... through a telegraphic transfer; (iii) Unit shall have the meaning assigned to it in clause (zc) of section 2 of the Special Economic Zones Act, 2005 (28 of 2005). ] ***************** NOTES:-- 1. Substituted vide NOTIFICATION NO. 64/2023 dated 17-08-2023 before it was read as, Rate of exchange for the purpose of deduction of tax at source on income payable in f .....

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