FIRC certificate for Local Fund transfer in Indian Bank

[Kalpana P]

Hello Everyone, I am freelancer from India and transferring my funds using Local Fund transfer method available in oDesk. Can anyone guide me if we can get FIRC certificate from any where regarding this fund transfers in India? Thank you! Kalpana

[Sandeep C]

Hello, I searched for FIRC. May be this link will give an idea. http://www.caclubindia.com/forum/firc-foreign-inward-remittance-certificate--13406.asp#.U6ZmeZSSzhc

[Francisco F]

You get it from your bank. You'll need that documentation for service tax exemption.

[Kalpana P]

The bank is saying, we are getting INR so won't be able to provide FIRC. now from where to get it?

[Sandeep C]

If bank is receiving money in INR then why is FIRC required. I think it will not be necessary.

[Nitin Kumar S]

[quote=Kalpana P.]The bank is saying, we are getting INR so won't be able to provide FIRC. now from where to get it?[/quote] Since you are withdrawing your funds using LFT transfer, which is credited to your bank account via NEFT transfer so there can't be any FIRC for this. Funds are transferred from JP Morgan Chase (India branch) to your bank, which is a local transfer cleared through NEFT transaction system.

[Vinay D]

Hi Kalpana,

Did you find a solution to this problem?

For claiming exemption under Service Tax (export) we need a FIRC.

FIRC is a proof that the earning was in foreing currency.

Now, the bank does not provide the FIRC since they receive the funds in INR from either Western Union (Elance) or ODesk (Upwork) via NEFT. Therefore, the bank says, since they are not the ones involved in conversion from USD to INR, they cannot provide FIRC.

How to obtain this document then?

If you or someone in the community has found an effective solution, please be kind to share and oblige.

Best,

Vinay

[ARUN S]

Hello Vinay
   
     I am facing same problem as you.  Did you find the solution ?

Thanks

[V D S Ram Gupta K]

Did any one find a solution for same. I am facing the same issue.

[Angad S]

as per GST law and save 18% tax we need this document (FIRC) to proof that payment came from abroad and what paid in foreign currency. hence it will qualify for export of service and payments from upwork will qualify for exempt from tax.

Has any body found a solution. Also does any one knows which bank is used by Upwork to transfer money to India.