Iec code application for it companies

This query is : Resolved

Dhanya (Querist)
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01 October 2012 I have registered a LLP for Software development and web development and would like to know while applying IEC what type of Exporter should I select, Since I would be developing the software for foreign company.

Also Is it fine to accept any inward remittance to my bank account from foreign company before getting IEC

Let me know

Thanks in advance

CA. Subhash Dangi

CA. Subhash Dangi (Expert)
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01 October 2012 The type of Exporter should be either Service Provider or Others (Mention the Software Development specifically).

There is no specific rules or obligation to get IEC code before accepting any inward foreign currency remittance.
U can accept foreign currency inward remittance.