Answer

1. F

   Facts

   Banks issue a Foreign Inward Remittance Advice (FIRA or e-FIRA) or credit advice for foreign payments. With invoices and contracts, it proves the nature and amount of receipts for income tax and GST.

2. P

   Provisions and law

   • Sec 44ADA, Income-tax Act 1961 (now Sec 58, Income-tax Act 2025)Resident professionals with receipts up to ₹50 lakh (₹75 lakh if cash receipts are within 5%) can declare 50% of receipts as income
   • Sec 2(6), IGST Act 2017Export of services needs a supplier in India, recipient outside India, place of supply outside India and payment in convertible foreign exchange (or INR where RBI permits)
3. A

   Analysis

   These documents also prove the supply is an export of services for GST. Example: a freelancer receives 14 payments from three clients; downloading e-FIRA each month and filing it with invoices makes your return and any GST refund simple. Platforms such as PayPal or payment aggregators may give a different form of advice, so ask what they issue.

4. C

   Conclusion

   1. 1Ask your bank for e-FIRA for each foreign credit
   2. 2Match each to an invoice
   3. 3Store them by month
   4. 4Use them for ITR and GST records

General guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.