Where to show receipt of foreign remittance in ITR

Foreign remittances received as an exporter or freelancer must be reported in your Income Tax Return under the appropriate income head, typically "Income from Business or Profession" or "Income from Other Sources." You do not need to attach the FIRC (Foreign Inward Remittance Certificate) or bank credit advice directly to the ITR, but you should maintain these documents along with invoices and contracts as proof. Declare the rupee equivalent of the remittance as per the exchange rate on the date of credit.

For detailed reporting requirements and compliance best practices, refer to the compliance guideline for inward remittance to ensure you meet all regulatory obligations. Skydo, as an RBI-authorised cross-border payments platform, automatically generates all necessary documentation for your foreign receipts, making ITR filing simpler and ensuring you have audit-ready records for any scrutiny.