Srini (Accountant) 03 February 2013
One of our new clients is a software export company and they are receiving money from the foreign source without any IEC number, the bank is not objecting for the same. Is there any problem in future ? How to get IEC number ? If they ask any questions, what we have to tell the authorities.
Thanks in advance
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Shobhit Goel (Chartered Accountant) 03 February 2013
Hi, In my view, bank is not objecting bcoz you are only receiving a payment from foreign. You will need IEC code at time of Import or Export. Thanks, Shobhit