Why i need FIRC certificate?(Online business)

3498 views 4 replies

Kunnu

Owner at Dewlance.com Hosting

105 Points Joined May 2011

Hello,

I have "Web Hosting"(Information & Technology) business and my company is registered as a "sole proprietorship" and I use "Payment Processor"(2checkout.com) to receive money from USA in USD Currency.

If I receive money from USA through Wire Transfer then I need a FIRC Certificate for filling a Income TAX Return?(ITR-4)

I did not do any physical import/export so I don't need this certificate? or I need to follow this process?

- If I need to get FIRC certificate then how can I get this since I don't have invoice,etc..?

Replies (4)

John Philip

Trade Consultant

47 Points Joined August 2009

FIRC i srequired since payment you received is in Foreign Currency.

You can tell the banker to issue the FIRC with name of remiiter and the purpose.

Export of Goods and Services is possible.

Kunnu

Owner at Dewlance.com Hosting

105 Points Joined May 2011

Originally posted by : John Philip
	FIRC i srequired since payment you received is in Foreign Currency. You can tell the banker to issue the FIRC with name of remiiter and the purpose. Export of Goods and Services is possible.