Early delivery of FOREX
This query is : Resolved
CA Sahil Singla..
(Querist)
10 June 2011
Sir
Could you please tell me the steps involved in case of Early Delivery in Foreign Exchange Contracts when the customer is of Exporter Type ?
Could you please tell me the steps involved in case of Early Delivery in Foreign Exchange Contracts when the customer is of Exporter Type ?
CA Suresh Jain
(Expert)
11 June 2011
The contract is for a specific date and therefore, early delivery is not possible. You can cancel the contract and convert the currency on current date.
If you have received the remittance earlier than the date of forward contract you keep the money in EEFC account and square-up the ttransaction on due date. Consultancy for free CA Suresh Jain, sureshjain.nj@gmail.com
If you have received the remittance earlier than the date of forward contract you keep the money in EEFC account and square-up the ttransaction on due date. Consultancy for free CA Suresh Jain, sureshjain.nj@gmail.com
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
