Inward Remittance(ITR 4): wire transfer or plane.com

The Plane Help Center provides detailed instructions for obtaining a Foreign Inward Remittance Certificate (FIRC) in India. This certificate serves as proof for foreign transfers to India, and Plane can assist you in obtaining the necessary UTR (Unique Transaction Reference) number for your FIRC request.

As for the legality of receiving payments through Plane.com compared to traditional wire transfers, both methods should be legally acceptable as long as they comply with Indian financial regulations and you obtain the necessary documentation, such as the FIRC, to validate the foreign income.

For detailed, personalized advice, consider a phone consultancy.

Hope you find the information helpful. You are free to contact me for further discussion.If you could spare two minutes of your time to write a review, It would be really grateful and very happy to read it.

Thank you.

Shubham Goyal

Take payment through wire transfer and obtain FIRC from bank

For detailed discussion you may opt for phone consultation

Indian GST department would need FIRC to consider such receipt as foreign currency receipt hence it is advisable to take from modes where FIRC would be available otherwise this could create issue in GST.

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The Non-Objection Certification for Issuance of BIRC, detailing only INR, affirms the bank's acknowledgment of foreign currency conversion for regulatory and tax compliance.

For detailed, personalized advice, consider a phone consultancy.

Hope you find the information helpful. You are free to contact me for further discussion.If you could spare two minutes of your time to write a review, It would be really grateful and very happy to read it.

Thank you.

Shubham Goyal

This will not work in my opinion

If NOC clearly mention remittance from Vostro account then it would be fine. Also obtain BIRC from your bank