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Why i need FIRC certificate?(Online business)

Kunnu (Owner at Dewlance.com Hosting) (105 Points)

09 March 2012

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..?

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4 Replies

John Philip (Trade Consultant) (47 Points)
Replied 09 March 2012

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)
Replied 10 March 2012

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.