How Schedule FA Numbers Are Calculated
5 min read · Updated July 2026 · Applies to AY 2025-26 and AY 2026-27
The formula behind every cell
Pick any USD/INR pair in your Excel — say Peak Balance (USD) and Peak Balance (INR ₹) on the A2 sheet. The relationship is always:
INR value = USD value × SBI TTBR rate (for that value's specified date), rounded to the nearest ₹1
There's no hidden fee, buffer, or second conversion. If you can find the USD amount on your broker statement and the correct rate for the right date, you can rebuild the INR number by hand — which is also the fastest way to check our output rather than re-deriving everything from scratch.
Verify any number in under a minute
- Pick the row you want to check, e.g. Table A2's Closing Balance.
- Divide INR by USD:
Closing Balance (INR ₹) ÷ Closing Balance (USD). That's the exact rate we applied, to 2 decimals. - Look up the official rate for the relevant date at itrfa.in/sbi-ttbr-rate (free SBI TTBR history since 1998).
- The two should match to within a few paise. If they don't, reply to your results email — we'll look into it.
Which date's rate applies to which figure
This is the part people trip on — Schedule FA and Schedule CG/OS/FSI use different rate rules, not the same one:
| Schedule | Rate date used | Why |
|---|---|---|
| FA — Peak / Closing balance (Table A2, A3) | The exact date of that value (Dec 31 for closing; the peak date for peak) | CBDT's own ITR-2/ITR-3 filing instructions for Schedule FA — not a numbered rule |
| FA — Initial value (Table A3) | The exact acquisition (vest/purchase) date | Same CBDT instructions |
| CG — Capital gains | Last day of the month before the sale month | Income-tax Rule 115(1)(f) — one specified date for both proceeds and cost basis |
| OS / FSI — Dividend income | Last day of the month before the dividend month | Income-tax Rule 115(1)(e) |
| TR — Foreign tax credit | Last day of the month before the tax was paid/withheld | Rule 128 — usually the same month as the dividend, but a separate rule |
Full background on why Schedule FA doesn't use Rule 115: SBI TTBR & Rule 115 explained.
Rounding
INR figures on the ITR portal are integers — decimals are rejected. Rounding happens once, at the final INR value, never on intermediate components. So a Table A2 row's Amount is round(USD amount × rate), not the sum of several already-rounded pieces.
Worked example
Fidelity account, closing balance $9,265.40 on Dec 31. SBI TTBR for 31-Dec is ₹84.10/USD that year.
$9,265.40 × ₹84.10 = ₹7,79,222.15 → rounded → ₹7,79,222
That's exactly what you'll find in the Closing Balance (INR ₹) cell — divide it back by the USD figure and you'll get ₹84.10 (within rounding), matching the official rate for that date.
Reply to your results email with the row you're checking — we verify every reported discrepancy against the source CSV and the official SBI TTBR.
Look up an SBI TTBR rate →