We have received share application money in US$.but we have not convereted that money into shares. Now we want to revert back that application money with interest. do I need to calculate interest on US$ or indian rupees. Suppose we have received US$ 1000 and we have converted that amount into 50000/- do we need to calculate int on US$1000 or rs.50,000/- Please clarify.
CAclubindia
