Hello members,
If I received fees in INR from a foreigner via forex dealer (located outside). can I show this transaction as export of services?
although in acknowledgement shared by client shows amount in pounds as well as INR.
thanks beforehand
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Amount received in INR will treat export of services(plz reply)
Replies (2)
To determine, whether the trannsaction is export or not, there's checklist you need to tick. Need to look at place of supply, location of receipient and provider, amount receivable in convertible foreign exchange. Hence, in ur case, last point is ticked, determime the first 3. If all are eligible then its export of service.
Hello CA Ankith, thankyou for reply.
does foreign account is necessary to receive forex. can I go ahead with savings account?
does foreign account is necessary to receive forex. can I go ahead with savings account?
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