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Please explain payment in foreign convertible currency
what does it mean and how can we check for the same?
Replies (5)
It means the which currency is acceptable in general
The currency in which you get payment for services exported must be freely convertible in India.
If we get payment directly into bank account then how is it determined
Calculating work is very easy
Convertible currency, or freely convertible currency, is a currency that doesn't have any government restrictions on currency exchange
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