FIRC
This query is : Resolved
09 December 2009
Hello Sirs
Will the Assessing Officers accept the Printed copy of the Paypal receipts for FICR? Please respond.
Thanks in advance
Will the Assessing Officers accept the Printed copy of the Paypal receipts for FICR? Please respond.
Thanks in advance
10 December 2009
The FIRC has to be issued by a "Bank". Therefore, the print of paypal receipt will not be accepted by the AO.
CA Prashant Gunjal
Pune
CA Prashant Gunjal
Pune
10 December 2009
Dear sir,
Thanks for your reply
Most of our foreign clients (we are a software company) pay through Paypal. We transfer the accumulated amount from Paypal to our current account once in a month or so.
Now can we get FIRC from our bank stating the amount of Foreign currency transfered from Paypal, will that be sufficient.
Thank You
Thanks for your reply
Most of our foreign clients (we are a software company) pay through Paypal. We transfer the accumulated amount from Paypal to our current account once in a month or so.
Now can we get FIRC from our bank stating the amount of Foreign currency transfered from Paypal, will that be sufficient.
Thank You
24 July 2024
To obtain a Foreign Inward Remittance Certificate (FIRC) for PayPal payments, you need to request a certificate from your bank confirming the receipt of foreign currency. The FIRC will specify the amount received, conversion rate applied, and the equivalent amount in INR credited to your account. Assessing Officers typically require official documentation like FIRC for official purposes like tax filings or foreign exchange regulations compliance.
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
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
