SynopsisIndian taxpayers must report foreign assets in their Income Tax Returns for AY 2026-27. Foreign currency amounts require conversion to Indian Rupees using SBI's TTBR exchange rate. This specific rate is mandated by the Income-tax Rules for accurate reporting. Taxpayers should use the TTBR rate applicable on the relevant date of acquisition or closing year. Retaining records of the adopted exchange rate is crucial for compliance and avoiding reporting errors.ET OnlineITR filing 2026: Filing ITR to report foreign assets? Use SBI’s TTBR rate to convert foreign currency into INR as prescribed under Income-tax Rules (AI generated representative image)If you've got foreign shares or any foreign assets, you need to declare them in your Income Tax Return (ITR) in India for AY 2026-2027 (FY 2025-2027). The ITR filing deadline for students, salaried employees, pensioners and others who don't need a tax audit is July 31, 2026. For Tax Year 2026-2027, the ITR filing due date is July 31, 2027.Just a heads up, even if you are not making any money from your foreign assets, you still have to report them in your ITR. The tricky part is figuring out the exchange rate since these assets are in foreign currency and you need to convert them to INR for the Indian ITR. The answer is to use SBI's TTBR rate that you can find online. The reason you should stick to SBI's TTBR rate is that the Income Tax Rules specifically require it. Plus, the exchange rates you see online can vary, which might lead to mistakes in your ITR reporting. Check out the details below to learn more.SBI TTBR rate and Schedule FAWhile furnishing the ITR, any amount denominated in a foreign currency must be converted into Indian Rupees using the Telegraphic Transfer Buying Rate (TTBR) of the State Bank of India (SBI), as applicable on the relevant date.The relevant date for conversion depends upon the nature of the amount being reported, as explained below:ParticularsExchange RateRelevant DatePeak balance in a foreign bank accountTTBRDate on which the peak balance occurredValue of investment in a foreign assetTTBRDate of acquisition of the investmentForeign-sourced incomeTTBRClosing date of the relevant calendar year (i.e., December 31, 2025 for AY 2026-27)Source: Taxmann researchThe snapshot below shows SBI's TTBR rate as on July 9, 2026: