How should I convert my income in FY 2016-17 as reported in IT return from INR to USD?
This is needed for proper understanding of my income in US terms for a US university. They want all amounts in my IT return summary to be converted into USD. Which reference source should I use for conversion rate (like xe.com)? Which specific date ( in between 1/4/2016 & 31/3/2017) should I use to take the reference rate? They have not specified anything hence I would like to know from general accounting practices in India.
CAclubindia
