We have a software prop firm which works for foreign client. The client makes payment to a Bank A in india and then Bank A sends it to our current A/c as NEFT. Now my bank is asking to get the remittance directly from client via bank route rather than current way or else FIRC will not be generated. Do we really require FIRC for audit purpose or is there any alternative proof that I can ask Bank for this case.
CAclubindia
