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Exchange rate for tds on nri
We received service invoice from NRI on date 31.01.2016 for Prof service rendered by NRI from Apr'15-Sep'15
So Which date Exchange rate should be taken for TDS i.e. Exchange rate on dt 30.09.2015 or 31.01.2016
Replies (1)
TDS needs to be deducted on credit or payment whichever is earlier. So Foreign Exchange rate also to be considered on the date of booking the Expense or Payment made whichever date is earlier.
So in this case, Foreign Exchange rate on 31.01.15 can be considered.
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