23 November 2021
Any payments made by resident to non resident has to be reported in income tax via form 15CA/CB but my question is that weather any form required to fill under income tax for any payment received by a resident from no resident. Suppose I provide service to person resident in new York and he made me payment for such service. Weather any reporting/declaration requirement arises for receiving such payment under income tax act.
23 November 2021
Amount representing the full value of services exported shall be received through an AD Bank in the manner specified in notified vide Notification No. FEMA 14 (R)/2016-RB dated 02 May 2016