SocialFinance Team 21

• asked 14h ago

Purpose code when withdrawing from Paasa?

Does anyone have any idea what purpose code applies when withdrawing from Paasa? It would be inward remittance to Indian bank account

paasa foreign-investment

0 votes

1 answers

6 views

Pankaj Batra 3

• asked Oct 23

Do I need a premium or high-balance account with AU Bank to get the zero forex markup?

I am opening AU bank account for outward remittance under LRS, Do I need a premium or high-balance account with AU Bank to get the zero forex markup?

foreign-investment

0 votes

1 answers

7 views

SocialFinance Team 21

• asked Oct 9

Do software and service exporters need to file an EDF with their bank from October 2026?

My bank says service export receipts now need an Export Declaration Form (EDF). Is this new, what does it need, and do I need an IEC as a service exporter?

inward-remittance income-tax

0 votes

1 answers

1 views

SocialFinance Team 21

• asked Sep 28

Basic Savings Bank Deposit Account or a regular savings account: which should I choose?

I'm deciding between a zero-balance Basic Savings Bank Deposit Account (BSBDA) and a regular savings account with a minimum balance requirement. What are the real differences?

bank-account

0 votes

1 answers

0 views

SocialFinance Team 21

• asked Sep 26

How does FX-Retail pricing work, and what happens to the dollars after I buy them?

Is the spread on FX-Retail always 20 paise, or can it be negotiated? After I buy USD, where is it held and for how long? Does the same work for converting USD back to INR, and is a markup charged on inward conversions too?

ccil-fx-retail forex

1 votes

1 answers

1 views

SocialFinance Team 21

• asked Sep 21

I entered the IBKR reference in the remittance remarks without spaces around the slash. Will it still be credited?

In the remarks for my wire to IBKR I typed the account reference as UXXXXXXXX/NAME instead of UXXXXXXXX / NAME. Should I be worried that the deposit won't be matched to my account?

outward-remittance ibkr foreign-investment

0 votes

1 answers

0 views

SocialFinance Team 21

• asked Sep 16

We deducted TDS but didn't deposit it or include it in our returns. What happens, and how do we fix it?

Our company deducted TDS from vendor payments months ago but missed depositing it and left it out of the quarterly TDS returns. What's the exposure, and what's the correct way to fix it?

income-tax

0 votes

1 answers

0 views

SocialFinance Team 21

• asked Sep 12

How do I recover shares from an old physical share certificate that's been lost?

A family member bought shares decades ago and the physical certificate is lost. The registrar has written asking for KYC documents. How do we recover the shares and any unpaid dividends?

shares iepf

0 votes

1 answers

0 views

SocialFinance Team 21

• asked Sep 12

Does AU Bank need the IBKR confirmation letter and a 1-year bank statement for every remittance?

For outward remittances to IBKR under LRS, AU Bank asks for the IBKR account confirmation letter and a bank statement for the last year. Do these have to be uploaded every time I send money, or only for the first transfer?

lrs ibkr au-bank foreign-investment

0 votes

1 answers

2 views

SocialFinance Team 21

• asked Sep 11

How does AU Bank track my LRS limit and deduct TCS on remittances?

When I remit money abroad through AU Bank, how does the bank know how much of my LRS limit I've already used this year, and how is TCS applied once I cross ₹10 lakh?

tcs lrs au-bank

0 votes

1 answers

2 views