Payment received in foreign currency
This query is : Resolved
01 October 2014
Sir
we are exporter of ready made garments, we had received USD 100000.00 form overseas buyer without any kinds of exports.
Sir my question is above USD received it taxable or not.
Thanks
we are exporter of ready made garments, we had received USD 100000.00 form overseas buyer without any kinds of exports.
Sir my question is above USD received it taxable or not.
Thanks
02 October 2014
If you have recd this amount against future export then it is not taxable.it is advance recd from customer.
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