The Central Board of Direct Taxes (CBDT) has notified the rate of exchange for the purpose of deducting tax at source (TDS) on income payable in foreign currency.The board has inserted Rule 26 in the Income-tax Rules, 1962, by notifying the Income-tax (Seventeenth Amendment) Rules, 2023.As per the new Rule, for deducting the TDS on any income payable in foreign currency, the rate of exchange...
