Fcra

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CHETAN (Querist)
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06 August 2014 I paid an advance amount to a travel agent for booking of tickets of our board members but the ticket was less then the amount paid. The travel agent refunded the amount through cheque while we deposited the cheque in bank into our FC account. the bank is not crediting the procees in our FC account and saying that this is local fund. while we paid the amount to travel agent through our FC aaccount. please guide to me on this issue. and under which section of FCRA it can be deposited in our FC account. thanks

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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06 August 2014 You have to convince your bankers with documentary evidence that it is not local fund it is only refund of the excess money paid from FC account.

Rupesh Jain

Rupesh Jain (Expert)
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07 August 2014 you can submit the document and normally bank take the declaration on your company letter head for amount and purpose and make credit in your a/c.

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