FIRC NOT TAKEN
This query is : Resolved
Paresh V Mehta
(Querist)
04 February 2009
Suppose
1)FIRC not taken from the bank and bank is also forget to give then what is the liability of assessee ?
2)After receiving again we can send back to the person who has send the foreign currency ?
1)FIRC not taken from the bank and bank is also forget to give then what is the liability of assessee ?
2)After receiving again we can send back to the person who has send the foreign currency ?
CA. B.SRINIVASULU
(Expert)
04 February 2009
FIRC is the proof given by the Banker and it is called as Foreign Inward Remittance Certificate. It states from whom the money is received and for which purpose. This will help the officials of rbi and other departments to probe the authenticity of inflow of funds.
If you have forgotten now you get it from your bank. They have to get acknowledgement from you for gieven.
This is your certificate you should not send it to the sender of foreign currency.
To control the hawala transaction the government has designed this system.
If you have forgotten now you get it from your bank. They have to get acknowledgement from you for gieven.
This is your certificate you should not send it to the sender of foreign currency.
To control the hawala transaction the government has designed this system.
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
- Depreciation Chart Companies Act
- EPF ECR NEW FILE SEP 17TH 2026
- Capital Gail Exemption Certificate
- Oct 2025 Invoices
- Import of Software Service.
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- Under marginal scheme
- Capitalgain tax purposes for valuation report compulsory
- GST on Renting godown to KFCSC for Storage of Raagi
- GST Audit whether Govt Companies are exempt?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
