How Do You Receive Money from Turkey to India in 2026?

Inside Turkey, clients pay in lira through the EFT System for real-time transfers between banks, or the FAST System for instant transfers at any hour. Both are owned and run by the Central Bank of the Republic of Türkiye for banks operating in Türkiye. To pay an Indian bank directly, a Turkish client normally sends a SWIFT wire.

• Rails: The EFT System provides real-time gross settlement of Turkish lira interbank payments, and its third generation started in 2013. The FAST System opened to all customers on 8 January 2021 and accepts payment orders 7x24.
• Client enters: For a local TRY transfer, the client enters the beneficiary name and the Turkish IBAN of the collection account. For a SWIFT wire, the client enters your name, Indian account number, your bank's SWIFT code and address, and your invoice reference.
• Client cost: Charges for a domestic TRY transfer are set by the client's bank. An international wire carries the client bank's charges, and the client may choose whether it or you bears the fees.
• Speed: The central bank says EFT retail payments reach the receiving bank within 30 seconds on average on weekdays from 8:30 a.m. to 5:30 p.m. FAST payments are executed within seconds at any hour. A SWIFT wire to India often takes one to three business days.
• Cross-border limits: Only banks operating in Türkiye can join the EFT and FAST systems, and both settle Turkish lira. Neither can credit an Indian bank account. A Turkish client paying India directly sends an international SWIFT wire, in lira, euros, US dollars or another currency its bank supports.

The table ranks platforms with full published pricing for TRY by the INR received on TRY 250,000, then lists other business platforms that accept TRY, unranked. Fees were checked on 30 Sept 2026 or later.

You receive less than the invoice because fees and the exchange margin come off the amount sent. Some Turkish payers send euros or dollars, so a lira invoice may be converted twice. For example, at an example mid-market rate of ₹100.00 per EUR, a bank rate of ₹99.10 on EUR 3,000 pays ₹2,97,300 instead of ₹3,00,000.

Each row applies the platform's published fee, FX markup and 18% GST on the fee to the mid-market rate of ₹1.892 per TRY for 4 Nov 2026.

• Total cost: Add the percentage fee, any fixed fee and the exchange margin, then compare the rupees credited with the invoice amount at the mid-market rate.
• Local rail coverage: Check whether the method gives your client local TRY account details, or whether the client must send an international wire in euros or US dollars.
• Settlement speed: Ask how many business days pass between the client's payment and the rupee credit, and what the cut-off times are.
• FIRA: Confirm you get an inward remittance advice for every payment, showing the purpose code, foreign currency amount and rupee amount.
• Client experience: Turkish companies may need your invoice and contract to send foreign currency abroad, and may withhold tax. Agree the invoice currency, tax position and documents before work starts.
• Support: Check how the provider handles returned payments, name mismatches and documents your AD bank asks for.

Receiving money from Turkey as export income needs the right purpose code, an EDF where required, and realisation within nine months. These rules come from the FEMA (Export and Import of Goods and Services) Regulations, 2026, in force from 1 October 2026. Your AD bank closes the EDPMS entry when payment arrives.

• FIRA / e-FIRA: FIRA is a common name for the bank's inward remittance advice. It is not a term defined in FEMA. GST refund rules under CGST Rule 89 refer to a foreign inward remittance certificate issued by an AD Category-I bank. See what is FIRA.
• Purpose code: Use a services code from the RBI purpose code list, such as P0802 "Software consultancy/implementation (other than those covered in SOFTEX form)" or P1006 "Business and management consultancy and public relations services".
• EDF (services): Under Regulation 3(2) of the 2026 Regulations, a services exporter files an EDF within 30 days from the end of the invoice month. One EDF can cover all exports in a month. A.P. (DIR Series) Circular No. 20 replaced SOFTEX with the EDF from 1 October 2026.
• EDF (goods): Goods exporters declare the full export value in the EDF at the time of export. For shipments through EDI ports, the EDF is deemed part of the shipping bill under Regulation 3(1).
• EDPMS: Export value must be realised within nine months of the invoice for services, or 12 months if invoiced or settled in rupees. For invoices up to ₹10 lakh, your AD bank may close the EDPMS entry on your declaration.
• PA-CB fund safety: A PA-CB must keep collected funds in an Inward Collection Account with a scheduled commercial bank, under paragraph 16 of the RBI Payment Aggregator Master Direction.

Export income from Turkey is taxed in India, and GST is zero-rated when the export conditions are met. Under the India-Turkey tax treaty, in force from 1 February 1997, business profits are taxable only in India without a permanent establishment in Turkey. Turkey may tax fees for technical services at up to 15%.

• GST zero-rating: Services to a Turkish client are an export when the conditions in IGST Act section 2(6) are met, including payment in convertible foreign exchange. Exports are zero-rated under section 16, and you can supply without IGST under a Letter of Undertaking filed under CGST Rule 96A.
• GST on fees: Fees charged to you by a bank or payment service in India can carry GST, shown on its tax invoice. Under IGST section 16(2), you can claim input tax credit on them even though exports are zero-rated.
• Income tax: From 1 April 2026 the Income-tax Act, 2025 applies. The presumptive schemes that were sections 44AD and 44ADA are now in section 58, per the Income Tax Department FAQ. Earlier years stay under the 1961 Act.
• India-Turkey DTAA: The India-Turkey DTAA was signed in New Delhi on 31 January 1995, came into force on 1 February 1997 and was notified as S.O. 74(E) dated 3 February 1997. Article 7 taxes business profits only in the country of residence unless there is a permanent establishment. Article 14 lets Turkey tax an individual's professional services only with a fixed base there or a stay of 183 days or more.
• Technical fees: Article 12 of the treaty lets Turkey tax fees for technical services arising there at up to 15% of the gross amount. Such fees are payments for managerial, technical or consultancy services. Article 22 has India allow a deduction for the Turkish tax paid, up to the Indian tax on that income.
• Client-side tax: Article 30 of Turkey's Corporate Tax Law No. 5520 requires a Turkish payer to withhold tax on professional earnings paid to non-resident companies. The law states 15%, and the President can set different rates by decision. This article covers payments to companies, so ask how withholding applies if you invoice as an individual. Agree the withholding and treaty position with your Turkish client before invoicing.

Rules and rails are linked to official sources below with the dates they were checked. Platform figures come from each platform's own pages, checked on 30 Sept 2026 or later, and RBI authorisation was checked against RBI's published list. Rates are XE live mid-market rates, dated 4 Nov 2026. The method is on the methodology page.

1. RBI: Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026 (FEMA 23(R)/2026-RB, as amended), Reg 2(1)(c) EDF; Reg 3(1) EDF for goods, deemed part of shipping bill at EDI ports; Reg 3(2) services EDF within 30 days from end of invoice month, single EDF per month, non-software may file on or before payment; Reg 4 EDPMS closure on declaration up to Rs 10 lakh; Reg 5 realisation nine months, twelve months if invoiced/settled in INR, AD may extend. (checked 8 Oct 2026)
2. RBI: A.P. (DIR Series) Circular No. 20 dated 16 January 2026, Supersedes Master Directions on Export/Import and SOFTEX circulars from 1 October 2026. (checked 8 Oct 2026)
3. RBI Master Direction on Regulation of Payment Aggregators, Para 11(d): max value per PA-CB transaction Rs 25 lakh; para 11(h): PA-CB to provide documents for EDPMS closure; para 16(a): funds in escrow, called Inward Collection Account (InCA) for PA-CB, with a scheduled commercial bank. (checked 8 Oct 2026)
4. RBI circular RBI/2026-27/08 dated 9 April 2026: Guidelines to facilitate faster cross-border inward payments, Para 3: banks shall endeavour to credit inward payments received during forex market hours within the same business day, after-hours on the next business day, subject to FEMA; inform customers on receipt. Effective six months from the circular date (9 October 2026). (checked 8 Oct 2026)
5. RBI: A.P. (DIR Series) Circular No. 84 (29 Feb 2012), purpose codes for reporting forex transactions, P0802 Software consultancy/implementation (other than those covered in SOFTEX form); P1006 Business and management consultancy and public relations services. (checked 8 Oct 2026)
6. IGST Act, 2017, section 2 (definition of export of services), Section 2(6): supplier in India, recipient outside India, place of supply outside India, payment in convertible foreign exchange or INR where RBI permits, not establishments of a distinct person. (checked 8 Oct 2026)
7. IGST Act, 2017, section 16 (zero rated supply), 16(1) export of services is zero rated; 16(2) input tax credit may be availed; 16(3) supply under bond or LUT with refund of unutilised ITC. (checked 8 Oct 2026)
8. CGST Rules, 2017, Rule 96A, Bond or Letter of Undertaking in FORM GST RFD-11 furnished prior to export for supply without payment of integrated tax. (checked 8 Oct 2026)
9. CGST Rules, 2017, Rule 89, Refund application refers to Bank Realisation Certificate or foreign inward remittance certificate issued by Authorised Dealer-I Bank. (checked 8 Oct 2026)
10. Income Tax Department: FAQs on objective and scope of the Income-tax Act, 2025, Presumptive taxation schemes (44AD, 44ADA, 44AE) consolidated into section 58; tax year concept applies from 1 April 2026. (checked 8 Oct 2026)
11. RBI Master Direction - Reserve Bank of India (Deposits and Accounts) Directions, EEFC: 100% of export earnings may be credited; accruals converted by the last day of the following month after approved uses. (checked 8 Oct 2026)
12. Income Tax Department: India-Turkey Comprehensive Agreement (DTAA), Signed at New Delhi 31 January 1995 (with Protocol); in force 1 February 1997; Notification S.O. 74(E) dated 3-2-1997. Art 5(2) PE list has no general service PE; proviso deems a PE only for services or facilities over six months connected with mineral oils; Art 7(1) business profits taxable only in residence State unless PE; Art 12(2) royalties and fees for technical services may be taxed in source State, not exceeding 15% of gross amount; Art 12(4) FTS means payments for services of a managerial, technical or consultancy nature; Art 14(1) independent personal services taxable in other State only with fixed base or stay of 183 days or more; Art 22(2)(a) India allows deduction equal to income-tax paid in Turkey, capped at Indian tax attributable. (checked 8 Oct 2026)
13. Central Bank of the Republic of Türkiye: EFT, ESTS and FAST systems, EFT provides real time transfer and RTGS of Turkish Lira interbank payments; third generation from 2013; operates weekdays except public holidays 8:30 a.m. to 5:30 p.m.; retail payments transferred within 30 seconds on average; all banks operating in Türkiye can join. FAST: instant payment system, payment orders 7x24, developed, operated and owned by the CBRT; payments executed within seconds; put into service to all customers on 8 January 2021. (checked 8 Oct 2026)
14. Mevzuat Bilgi Sistemi: Corporate Tax Law No. 5520 (Kurumlar Vergisi Kanunu, Turkish), Article 30(1)(b): 15% corporate tax withholding by payers on 'serbest meslek kazançları' (professional earnings) of non-resident (dar mükellef) corporations; Art 30(8) President's power to change withholding rates; footnote 44 refers to Presidential Decision No. 9707 (Official Gazette 32857, 30/3/2025) on rates. (checked 8 Oct 2026)
15. Skydo homepage (pricing and fee calculator), Know what you pay; calculator showing GST 18% of transaction fee (checked 6 Oct 2026)
16. 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)
17. Stripe India pricing, International cards with USD/other currency presentment 4.3% + 2% if currency conversion is required; Mastercard and Visa cards issued outside India 3% + 2%; American Express outside India 3.5% + 2%; dispute received INR 1,000.00 (checked 7 Oct 2026)
18. Winvesta FAQ: What are the charges for the global collections account?, Up to 2,000 a month: 0.99% + a small fixed fee; 2,000-100,000 a month: custom pricing; above 100,000 a month: flat 0.2%; USD Collections: $3 + 0.99%; 18% GST will be levied on Winvesta fees for every non-JPMC account (checked 7 Oct 2026)
19. Cashfree Docs: Global Collections overview (checked 6 Oct 2026)
20. Tazapay Pricing, Global Collection Accounts: *Contact sales; Global Cards 3.8% + USD 0.5; APMs 0.8%-2.5%; FIRC (India) USD 4; Custom tier: Volume-Based Discounts, Payment Method-Specific Rates, Customized FX (checked 7 Oct 2026)