we have received the purchase order from one company M/s. XXX Ltd for USD 22000.In this proforma we received the payment for USD 10000 in ADVANCE from the name of INDIVIDUAL. Now we know what the documents are yet to be ready for before making shipments. When I ask the Bankers, they clearly mentioned in Invoice, company name and remitter details relationship of the company, Bill of lading, shipping bill also. In this scenario if any further documents required from the customer for these issues.

The following replies received from ChatGPT. Please share someone faces on the same issues in your experiences.

We have received a purchase order from M/s. XXX Ltd. for USD 22,000. Against this proforma invoice, we have received an advance payment of USD 10,000. However, the remittance was received from an individual instead of M/s. XXX Ltd.
We approached our bank for guidance, and they advised that the following documents should clearly mention the buyer's company name and the relationship between the remitter and the buyer:
• Commercial Invoice
• Bill of Lading
• Shipping Bill
• A declaration explaining the relationship between the remitter (individual) and M/s. XXX Ltd.
In this situation, could you please advise whether any additional documents should be obtained from the customer before we proceed with the shipment? For example, would it be advisable to obtain:
• A letter from M/s. XXX Ltd. confirming that the advance payment made by the individual was on their behalf.
• A declaration or authorization from the individual confirming the payment was made on behalf of M/s. XXX Ltd.
• Any other supporting documents required for banking or export compliance.
Kindly advise the complete documentation required to avoid any issues during export documentation, bank negotiation, or realization of export proceeds.


Here are the documents you should obtain before shipment:
1. Authorization Letter from M/s. XXX Ltd.
o Stating that they have authorized Mr./Ms. [Individual's Name] to remit the advance payment on their behalf.
o Mention the Purchase Order number, invoice number, and the amount remitted (USD 10,000).
2. Declaration from the Individual (Remitter)
o Confirming that the payment was made on behalf of M/s. XXX Ltd.
o Mention the reason for making the payment and the relationship with the company (e.g., Director, Owner, Employee, Shareholder, Agent, or Representative).
3. Proof of Relationship (if applicable)
o Business card, company ID, board resolution, agency agreement, or any other document showing the individual's connection with M/s. XXX Ltd.
4. Commercial Invoice
o Buyer: M/s. XXX Ltd.
o Include a remark such as:
"Advance payment of USD 10,000 received from Mr./Ms. [Name] on behalf of M/s. XXX Ltd. as per the buyer's authorization letter."
5. Packing List
6. Bill of Lading / Air Waybill
o Consignee should be M/s. XXX Ltd. (or as agreed in the contract).
7. Shipping Bill
o Buyer/export details should match the invoice.
8. Purchase Order
o Copy of the original PO from M/s. XXX Ltd.
9. Bank Payment Advice / SWIFT Copy
o Showing the remitter's name and payment details.
10. Any declaration required by your bank
o Some banks provide a specific format for third-party remittance declarations. Check whether your bank requires its own format.

Goods sold to a customer (B2C) of Rs. 2.00 lac was returned by him. A e way bill was issued against the sale. Now, what should I do ? A credit note is to be issued now. But what about e way bill already issued ?

I'm an Indian resident planning a cross-border e-commerce model: buying products from US suppliers, shipping them directly to a Canada-based warehouse (goods never enter India), and selling to Canadian customers via Amazon.ca. This involves ongoing small-ticket transactions, not a single bulk deal.
Money flow: I pay the US supplier from India, and receive Amazon Canada sale proceeds into an Indian account.
Questions:
Does this qualify as Merchanting Trade under RBI's MTT guidelines, given it's recurring retail sales rather than a single confirmed bulk order?
Is IEC mandatory here, since goods never physically touch India?
Any GST implications, since the supply and sale both happen outside India?
Best entity structure (individual/LLP/Pvt Ltd) for this kind of recurring cross-border trade?
Would appreciate guidance or relevant circulars from anyone who has structured something similar. Thank you.

Respected Members,

I have a query regarding the reporting of Remuneration received as a Foreign Employee from a Foreign Enterprise, which is exempt under Section 10(6) of the Income-tax Act (subject to satisfaction of the prescribed conditions).

In the previous year, while using Spectrum software, we were manually entering this amount under exempt income, and the ITR was filed successfully.

However, after the latest software update for AY 2026-27, manual entry is no longer permitted. We have to select an item from the predefined list. Although the list contains **"Remuneration received as Foreign Employee"**, selecting this option results in a JSON validation error stating "Specify Category."

On contacting Spectrum support, their executive advised us to report this income under "Income Exempt as per CBDT Circular", after which the JSON is generated successfully.

My query is:

1. Is there any **CBDT Circular/Notification** under which remuneration received as a foreign employee from a foreign enterprise is treated as exempt?
2. Since the exemption is available under **Section 10(6)** and not by virtue of any CBDT Circular, is it technically and legally correct to report it under **"Income Exempt as per CBDT Circular"** merely to overcome the JSON validation issue?
3. Has anyone else faced this issue in Spectrum or any other ITR utility? If yes, what is the correct reporting approach?

Any guidance or reference to the relevant provision, schema validation, or CBDT instruction would be greatly appreciated.

Thank you.

This version clearly explains the issue and is likely to get precise responses from practicing CAs.

PART-I - Details of Tax Deducted at Source
Sr. No. Name of Deductor TAN of Deductor Total Amount Paid/
Credited
Total Tax Deducted # Total TDS
Deposited
1 PUNJAB NATIONAL BANK CIRCLE OFFICE HYDA02285D 80.00 25.00 25.00
Sr. No. Section 1 Transaction Date Status of Booking* Date of Booking Remarks** Amount Paid /
Credited
Tax Deducted ## TDS Deposited
1 195 03-Mar-2026 F 10-May-2026 - 19.00 5.00 5.00
2 195 02-Dec-2025 F 25-Jan-2026 - 19.00 6.00 6.00
3 195 04-Sep-2025 F 22-Oct-2025 - 20.00 7.00 7.00
4 195 01-Jun-2025 F 25-Jul-2025 - 22.00 7.00 7.00

Above is form 26 is showing receipt of foreign remitance under section 195
Receipt of foreign remittance
SR. NO. INFORMATION CODE INFORMATION DESCRIPTION INFORMATION SOURCE COUNT AMOUNT
1 TDS-195 Payment received by non-residents (Section 195) PUNJAB NATIONAL BANK CIRCLE OFFICE (HYDA02285D) 4 80
SR. NO. QUARTER DATE OF PAYMENT/CREDIT AMOUNT PAID/CREDITED TDS DEDUCTED TDS DEPOSITED STATUS
1 Q4(Jan-Mar) 03/03/2026 19 5 5 Active
2 Q3(Oct-Dec) 02/12/2025 19 6 6 Active
3 Q2(Jul-Sep) 04/09/2025 20 7 7 Active
4 Q1(Apr-Jun) 01/06/2025 22 7 7 Active
Note - If there is variation between the TDS/TCS information as displayed in Form26AS on TRACES portal, and the TDS/TCS information as displayed in AIS on Compliance Portal, the taxpayer may rely on the
information displayed on TRACES portal for the purpose of filing of tax return and for other tax compliance purposes.
Part B2-Information relating to specified financial transaction (SFT)
Interest from savings bank
SR. NO. INFORMATION CODE INFORMATION DESCRIPTION INFORMATION SOURCE COUNT AMOUNT
1 SFT-016(SB) Interest income (SFT-016) – Savings PUNJAB NATIONAL BANK (AAACP0165G.AB690) 1 80
SR. NO. REPORTED ON ACCOUNT NUMBER ACCOUNT TYPE INTEREST AMOUNT STATUS
1 24/05/2026 13132191022401 Saving 80 Active
SR. NO. INFORMATION CODE INFORMATION DESCRIPTION INFORMATION SOURCE COUNT AMOUNT
2 SFT-016(SB) Interest income (SFT-016) – Savings CPRC CHENNAI (CHEC18029E.AP563) 1 27
SR. NO. REPORTED ON ACCOUNT NUMBER ACCOUNT TYPE INTEREST AMOUNT STATUS
1 09/05/2026 3922956868 Saving 27 Active
SR. NO. INFORMATION CODE INFORMATION DESCRIPTION INFORMATION SOURCE COUNT AMOUNT
3 SFT-016(SB) Interest income (SFT-016) – Savings ICICI BANK LIMITED (AAACI1195H.AB286) 1 2
SR. NO. REPORTED ON ACCOUNT NUMBER ACCOUNT TYPE INTEREST AMOUNT STATUS
1 29/05/2026 112001503612 Saving 2 Active
above is AIS statement showing foreign receipts and savings interest . very small amounts though in actual no foreign receipts were done.
how do I report in ITR 2 as a NRI account holder .under which heads.Please guide. actually I am the father who every year files the ITR. for my NRI son. The interest on savings with TDS is correct in 26AS and AIS. But receipt of foreign remitance in micro amounts is not really done. but it seems bank has to report it .but what and how do I report in itr2?

Dear Sir,
We have received a purchase order from M/s. XXX Ltd. for USD 22,000. Against this proforma invoice, we have received an advance payment of USD 10,000. However, the remittance was received from an individual instead of M/s. XXX Ltd.
We approached our bank for guidance, and they advised that the following documents should clearly mention the buyer's company name and the relationship between the remitter and the buyer:
Commercial Invoice
Bill of Lading
Shipping Bill
A declaration explaining the relationship between the remitter (individual) and M/s. XXX Ltd.
In this situation, could you please advise whether any additional documents should be obtained from the customer before we proceed with the shipment? For example, would it be advisable to obtain:
A letter from M/s. XXX Ltd. confirming that the advance payment made by the individual was on their behalf.
A declaration or authorization from the individual confirming the payment was made on behalf of M/s. XXX Ltd.
Any other supporting documents required for banking or export compliance.
Kindly advise the complete documentation required to avoid any issues during export documentation, bank negotiation, or realization of export proceeds.

Hi,
I want to know the practical solution for correcting mistake in e-invoice identified after 24 hours. While generating e-invoice GSTIN of the customer was wrongly mentioned but original invoice was raised with correct GSTIN. In GSTR 1 e-invoice auto-populated with wrong GSTIN. If I amend this in GSTR 1, Return will be correct but I cannot give e-invoice to the customer which in my view is as same as not generating e-invoice. How can I correct this mistake and give e-invoice to the customer and make necessary entries in books of account?

We have filed Income Tax Return for AY 24-25 against which Income Tax have raised demand after adjusting TDS on Salary. Please suggest the solution for this to avoid tax payment.

"On perusal of the Return of Income filed, you have exercised the option of "Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed. However, the Form 10IEA has not been filed under sub-section (1) of section 139 for furnishing the return of income. Hence, your return of income will be processed as per the provisions of section 115BAC (ie., under the new tax regime) and deductions/ exemptions and tax rates as per the said provision will be allowed."

what are concept of customer and vendor treconciliation. How to make vendor and customer reconciliation , what add and less while making reconciliation statement, please provide the best concepts.

Hello

Getting the cited message though I havn't claimed deduction u/s 54F. How to resolve this ?
Pls help