Accounting Reports Question:

How FIRC accounting is done?

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Answer:

When any foreign exchange (currency) comes to your bank account Bank wants confirmation from your side as per RBI rule i.e.-what is the purpose of this remittance means how and why got this money? Then You have to submit the purpose/amount/ bank account etc. to the bank.This is the procedure of giving disposal instruciton of remittance after this document you can ask to get FIRC.

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