FIRA, FIRC or Form 15CA: What You Actually Need for Tax Filing
- Author:
- Manoj Sharma
- Verified by:
- Editorial team
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Short answer
For 2026 tax filing, Indian exporters attach no FIRA or FIRC, because ITRs are annexure-less. Keep the FIRA or FIRC as proof of foreign receipt under RBI's FEMA Regulations 2026. A FIRC supports GST refunds under CGST Rule 89(2)(c). Form 15CA covers payments to non-residents, so receiving money needs none.
| Applies to | Rules involved | Platforms compared | Last verified |
|---|---|---|---|
| Indian resident freelancers, sole proprietors, firms and companies who receive payments from foreign clients and want to know which certificates and forms matter when they file income tax returns and GST refunds, and when Form 15CA or 15CB applies. | Income-tax Act, 2025 (and the 1961 Act for earlier years), Form 15CA under Rule 37BB, Form 15CB, Form 67, FEMA (Export and Import of Goods and Services) Regulations 2026, A.P. (DIR Series) Circular No. 20, FETERS purpose codes, CGST Rule 89(2)(c), Rule 96A, IGST Act s.16 and the DGFT e-BRC FAQs. | Skydo, Razorpay | 6 Oct 2026 |
How do payment options compare for receiving a foreign client payment with a FIRA or FIRC for tax records in India?
Platforms named in the question are shown alongside the 2 highest payouts among the platforms this site covers, ranked by the INR received on a $5,000 invoice. Fees were checked on 30 Sept 2026.
| Platform | Best for | Fee | FX markup | Settlement | FIRA | RBI PA-CB status | INR on $5,000 | Source |
|---|---|---|---|---|---|---|---|---|
| Skydo | Indian freelancers and exporters receiving mid to large B2B invoices | $19 up to $2,000, $29 to $10,000, 0.3% above + GST | States zero FX margin at live rate | States under 24 hours; FAQ timelines vary by rail | States instant, free FIRA per payment | RBI authorised PA-CB Inward and Outward; on RBI list | ₹4,69,654 | Skydo pricing (checked 6 Oct 2026) |
| Razorpay | Indian businesses and freelancers on Razorpay invoicing foreign clients | 1% per bank transfer (Rs 1,000 flat below Rs 1,00,000) + GST | States 0% markup on MoneySaver at live rate | States 1 day (T+1 after invoice shared) | FIRS within 24 hours of settlement; no charge listed | RBI authorised PA-CB inward and outward, plus PA-O | ₹4,67,310 | Razorpay pricing (checked 6 Oct 2026) |
Which RBI and income-tax rules decide whether you need a FIRA, a FIRC or Form 15CA?
RBI's FEMA Export and Import Regulations 2026 govern money coming in from foreign clients: the EDF, realisation within nine months and FETERS reporting. Form 15CA comes from income-tax law and applies to a person making a payment to a non-resident, so it covers money going out. The 2026 RBI regulations do not name the FIRA or FIRC, so the record your AD bank or platform gives you is what you keep. For income tax, ITRs are annexure-less, and documents are kept for when the tax department asks for them.
| Rule | Source | Clause | Plain meaning | Best for |
|---|---|---|---|---|
| Export declaration (EDF) | FEMA Export and Import Regulations 2026 | Reg 3(2) | Service exporters declare the full export value in an EDF within 30 days from the end of the invoice month. One EDF can cover all of a month's exports. | Anyone invoicing foreign clients for services |
| Realisation period | FEMA Export and Import Regulations 2026 | Reg 5(1), as amended | Services must be paid within nine months of the invoice date, or twelve months if invoiced or settled in INR. The AD bank may extend this. | Exporters with slow-paying clients |
| Bank credit and EDPMS | FEMA Export and Import Regulations 2026 | Reg 4(2) | The AD bank credits the money after checking the transaction is genuine. Invoices up to ₹10 lakh can be closed in EDPMS on the exporter's declaration. | Freelancers with smaller invoices |
| Purpose code reporting | FEMA Export and Import Regulations 2026 | Reg 18(2) | The AD bank reports every foreign trade transaction in FETERS, which uses RBI purpose codes. The code appears on the bank's inward remittance record. | Checking the code shown on a FIRA or FIRC |
| Form 15CA | Income Tax Department Form 15CA FAQ | Rule 37BB (1961 Act rules) | Filed by a person paying a non-resident or foreign company. Part A covers remittances up to ₹5 lakh in a financial year, Parts B and C above that, and Part D non-taxable remittances. | Indian businesses paying foreign vendors or contractors |
| Form 15CB | Income Tax Department Form 15CB FAQ | Section 195 / 197 (1961 Act) | A chartered accountant's certificate for taxable payments to a non-resident above ₹5 lakh in a financial year without an AO certificate. It must be uploaded before Part C of Form 15CA. | Larger taxable payments sent abroad |
| Annexure-less returns | Income Tax Department ITR-1 FAQ | FAQ on documents | No document, such as a TDS certificate, is attached to the return. Documents are kept to produce in an assessment or inquiry. | Freelancers deciding what to keep for tax filing |
Which option costs least to receive a $500, $2,000 or $5,000 foreign client payment with a FIRA or FIRC in India?
Each row applies the platform's published fee, FX markup and 18% GST on the fee to the XE mid-market rate for 4 Nov 2026. Platforms without full published pricing are not included.
| Platform and invoice | Fee | FX markup | GST | INR received | Cost | Best for |
|---|---|---|---|---|---|---|
| Skydo, $500 | ₹1,797 | ₹0 | ₹323 | ₹45,169 | 4.48% | Indian freelancers and exporters receiving mid to large B2B invoices |
| Skydo, $2,000 | ₹1,797 | ₹0 | ₹323 | ₹1,87,036 | 1.12% | Indian freelancers and exporters receiving mid to large B2B invoices |
| Skydo, $5,000 | ₹2,743 | ₹0 | ₹494 | ₹4,69,654 | 0.68% | Indian freelancers and exporters receiving mid to large B2B invoices |
| Razorpay, $500 | ₹1,000 | ₹0 | ₹180 | ₹46,109 | 2.50% | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Razorpay, $2,000 | ₹1,892 | ₹0 | ₹340 | ₹1,86,924 | 1.18% | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Razorpay, $5,000 | ₹4,729 | ₹0 | ₹851 | ₹4,67,310 | 1.18% | Indian businesses and freelancers on Razorpay invoicing foreign clients |
For example, on a $2,000 invoice Skydo pays about ₹1,87,036 and Razorpay about ₹1,86,924 at today's reference rate, a difference of ₹112.
What documents and GST apply to foreign client payments when filing tax returns?
For income tax you keep an invoice and a FIRA, FIRC or bank inward remittance record for each payment, and you attach none of them to the return. For GST, a FIRC or BRC number and date is needed for each invoice when you claim a refund on export of services under CGST Rule 89(2)(c). An LUT under Rule 96A lets you export without paying IGST, as a zero-rated supply under IGST s.16. Form 15CA and 15CB are not part of receiving money.
| Document | Who issues it | When needed | Best for |
|---|---|---|---|
| Export invoice | You, the exporter | When you bill the client; the invoice date starts the nine-month clock under Reg 5(1) | Every foreign assignment |
| FIRA or FIRC | Your AD bank or the platform's partner bank, where it issues one. Ask what record it provides | Kept as proof of foreign receipt; its number and date go into a GST refund claim under Rule 89(2)(c) | Income tax records and GST refunds |
| e-BRC | DGFT, generated from your bank's inward remittance message (DGFT e-BRC FAQs) | After payment is received | Exporters who need a DGFT record of realisation |
| Export Declaration Form (EDF) | You declare it to the specified authority under Reg 2(1)(f) | Within 30 days from the end of the invoice month | All service and software exporters |
| LUT (Form GST RFD-11) | You file it on the GST portal | Before export, under Rule 96A | GST-registered exporters billing without IGST |
| Form 67 | You file it on the e-filing portal (Form 67 FAQ) | Before the return due date, only when you claim credit for tax a foreign client withheld | Freelancers whose clients deducted tax abroad |
| Form 15CA / 15CB | The payer, with a CA for 15CB (Form 15CA FAQ) | Before a payment to a non-resident; not for money you receive | Indian businesses paying foreign parties |
What changed in the rules this year?
Two changes matter for tax filing in 2026. The Income-tax Act, 2025 replaced the 1961 Act from 1 April 2026, and RBI's FEMA Export and Import Regulations 2026 took effect on 1 October 2026.
- New Act: The 1961 Act stands repealed on 1 April 2026. Tax years beginning before that date stay under the old Act, so a return filed in July 2026 for AY 2026-27 uses the old forms.
- Fewer forms: The Income Tax Department says the rules were reduced from 511 rules with 399 forms to 333 rules with 190 forms. Forms 15CA, 15CB and 67 are 1961-era names; check the 2025 Act mapping for the current form before a tax year 2026-27 filing.
- FEMA 2026: From 1 October 2026, Circular No. 20 supersedes the Master Direction on Export of Goods and Services and the SOFTEX circulars. Software exports are now declared in the EDF.
- Realisation: A 22 September 2026 amendment set the realisation period at nine months, or twelve months for INR invoices, before the regulations took effect.
How did we verify this?
Every rule is linked to its official source below with the date it was checked. Platform figures come from each platform's own pages; the full method is on the methodology page.
- Income Tax Department e-filing portal: Form 15CA FAQ, Q1 to Q4 and Q8 (Parts A to D, Rule 37BB, timing) (checked 6 Oct 2026)
- Income Tax Department e-filing portal: Form 15CB FAQ, Q1, Q4 and Q6 (checked 6 Oct 2026)
- Income Tax Department e-filing portal: ITR-1 (Sahaj) FAQ, Annexure-less returns; who cannot use ITR-1 (checked 6 Oct 2026)
- Income Tax Department e-filing portal: Form 67 FAQ, What Form 67 is and when it is filed (checked 6 Oct 2026)
- Income Tax Department: Step-by-Step Guide to Fill FSI, TR and FA Schedule in ITR, Section 2, Selecting the appropriate ITR form (checked 6 Oct 2026)
- Income Tax Department: Objective and scope of the new Act (Income-tax Act, 2025), Repeal of the 1961 Act on 01.04.2026; tax year; rules and forms reduced (checked 6 Oct 2026)
- Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026, Notification No. FEMA 23(R)/2026-RB (amended up to 22 September 2026), Regulations 2(1)(f), 3(2), 4(2), 5(1) and 18(2) (checked 6 Oct 2026)
- RBI A.P. (DIR Series) Circular No. 20, RBI/2025-26/194: Export and Import of Goods and Services (16 January 2026), Supersession of the Master Direction on Export and SOFTEX circulars (checked 6 Oct 2026)
- Foreign Exchange Management (Export and Import of Goods and Services) (Amendment) Regulations, 2026, Notification No. FEMA 23(R)/(1)/2026-RB (22 September 2026), Amendment to regulation 5 (checked 6 Oct 2026)
- RBI A.P. (DIR Series) Circular No. 84, RBI/2011-12/413: Compilation of R-Returns, reporting under FETERS (29 February 2012), Revised purpose codes (checked 6 Oct 2026)
- Central Goods and Services Tax Rules, 2017, Rule 89: Application for refund (CBIC tax information portal), Rule 89(2)(c) (checked 6 Oct 2026)
- Central Goods and Services Tax Rules, 2017, Rule 96A (CBIC tax information portal), Rule 96A(1) (checked 6 Oct 2026)
- Integrated Goods and Services Tax Act, 2017, section 16: Zero rated supply (CBIC tax information portal), Section 16(1) and 16(3) (checked 6 Oct 2026)
- DGFT FAQs on Self-Generation of eBRC, Version 1.0 (March 2024), Q1 and Q2 (checked 6 Oct 2026)
- Skydo homepage (pricing and fee calculator), Know what you pay; calculator showing GST 18% of transaction fee (checked 6 Oct 2026)
- Razorpay MoneySaver Export Account (International Bank Transfers) pricing, Standard Plan: 0% FX markup, 1% fee, FlashLinks 2%, GST applicable, flat fee of INR 1,000 on transactions below INR 1,00,000, setup and AMC INR 0 (checked 6 Oct 2026)
Frequently asked questions
Do I need a FIRA to file my income tax return as a freelancer with foreign income in India?
No document is uploaded with the return, because the Income Tax Department says ITRs are annexure-less. You still keep a FIRA, FIRC or bank inward remittance record for each foreign payment, since documents may need to be produced in an assessment or inquiry. See how to get FIRA as a freelancer.
Does a freelancer receiving foreign payments need to file Form 15CA or Form 15CB?
No. The Income Tax Department's Form 15CA FAQ says the form is furnished by a person responsible for paying a non-resident or a foreign company. Form 15CB is a chartered accountant's certificate for such payments above ₹5 lakh. Receiving export income from a foreign client is an inward payment, so neither form applies to it.
When does an Indian exporter need Form 15CA Part A, B, C or D?
Under the Form 15CA FAQ, Part A covers remittances up to ₹5 lakh in a financial year. Part B applies above ₹5 lakh with an order under section 195(2), 195(3) or 197 of the 1961 Act. Part C applies above ₹5 lakh with Form 15CB. Part D covers remittances not chargeable to tax. These apply only to payments abroad.
Is a FIRC or FIRA needed for a GST refund on export of services in 2026?
Yes, when you claim a refund. CGST Rule 89(2)(c) asks for a statement with the number and date of invoices and the relevant Bank Realisation Certificates or Foreign Inward Remittance Certificates for refunds on export of services. Under IGST s.16(3), exporters under an LUT can claim refunds of unutilised input tax credit. See GST refund on export of services.
What is the difference between a FIRA, a FIRC and an e-BRC for tax records?
A FIRC is a bank's certificate of foreign inward remittance, which CGST Rule 89(2)(c) names. FIRA is a term some banks and platforms use for their own remittance advice. An e-BRC is issued by DGFT as confirmation that an exporter received payment. Ask your bank which record it gives. See FIRC vs FIRA vs e-BRC.
Do I need Form 67 if my foreign client deducted tax before paying me?
Form 67 is used to claim credit for foreign tax paid outside India. The Form 67 FAQ says it must be filed before the return due date under section 139(1) of the 1961 Act. For tax years from 1 April 2026, check the matching form under the 2025 Act. See foreign tax credit and Form 67.
Which purpose code on the FIRA should match my income tax and GST records?
Banks report each receipt under RBI's FETERS purpose code list (A.P. (DIR Series) Circular No. 84), and Regulation 18(2) keeps that reporting in place from October 2026. The code should match the service on your invoice. If it is wrong, ask your AD bank to correct it. See correcting a wrong purpose code or FIRA.
Which ITR form reports foreign income received through a FIRA or FIRC in 2026?
The Income Tax Department's FA and FSI guide says ITR-1 and ITR-4 have no Schedule FA and should not be used by taxpayers with foreign assets or income. The ITR-1 FAQ also excludes business or professional income. Confirm the right form for your facts. See which ITR form freelancers file.