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Managing cross-border payments can feel overwhelming, but maintaining the right paperwork protects your business from regulatory risks. Whether you’re a startup getting paid by international clients or an exporter sending money abroad, having the right RBI FEMA documents ready ensures compliance and smoother banking. This guide gives you a complete audit checklist for export services, […]
If you’re a freelancer or business owner in India receiving money from international clients, you’ve likely come across confusing terms like FIRC, FIRA, or just “remittance advice.” But what do these mean? Which one applies to your case? And how do you use them as proof of inward remittance for compliance, taxes, and benefits? This […]
If you’ve ever sent or received an international wire, you’ve probably been asked: “Can you send me the MT103?” Think of it as both the receipt and the routing map for a cross-border transfer. In simple terms, an MT103 is a standardized SWIFT message that shows: An MT103 is widely accepted as proof of payment […]
If you earn from global clients but spend in India, you’ve probably had that “wait…why did I get less INR?” moment. It’s not just one deduction. It’s usually a trio—transfer fees, FX spread, and intermediary bank charges—quietly chipping away at your payout. This guide explains FX spread explained in simple terms, compares transfer fee vs […]
If you’ve ever sent money to India and thought, “The rate looked great—so why did less arrive?” you’re exactly who this guide is for. In cross-border payments, it’s easy to get dazzled by a snazzy FX rate or “zero fees” banner. But what really matters is the Total Landed INR—the actual rupees that hit the […]
If you build software in India and get paid from clients overseas, you’ve met the phrase “purpose code.” It sounds bureaucratic, but it’s really just a label that tells your bank (and the RBI) why you’re receiving the money. Use the right label and your funds clear faster, your paperwork stays clean, and future audits […]
Key Highlights Introduction Studying abroad can help international students reach great things. It is important to have a good plan for money. You need to cover tuition, tuition fees, living expenses, and some other costs. After that, you will have to choose the best way to send money to your child’s bank account in another […]
RBI Guidelines for Foreign Inward Remittance If any amount is transferred from any foreign country and is received in India, it is called an ‘Inward Remittance’. It defines the flow of money in the transaction. RBI has issued certain guidelines related to inward remittance which can be explained as follows: Also Read : Education Loan […]
Inward Remittance Meaning To put it in very simple terms, whenever someone transfers money from a foreign country to someone staying in India, it is called inward remittance for the person receiving it. Inward remittances can be for multiple purposes including personal and business. Inward remittances come under the ambit of the Reserve Bank of […]
What is Inward Remittance? Remittance typically means money transfer from one party to another. In reference to this blog, remittance means a transfer of an amount of money across international borders. If an amount is transferred from India to any other country, it is termed as an ‘outward remittance’. On the other hand, if any […]
