Hello Does anyone know from which citi bank;s branch paypal send NEFT to indian users? I need this info to submit FIRC
I just checked my bank account for you: I see all my NEFT transfers have this code CITI0100000 which seems to be a Citi bank branch in Mumbai if you Google. I suspect it might vary depending upon your bank & branch location/region, not sure, just thinking.
from where you get that, in my bank a/c it is showing NEFT-CITIN1443790xxx-PAYPAL OPGSP SETTL something like. CITIN1443 is constant for all trx
I do not understand why you need to submit FIRC. Normally we need to submit FIRC when we received money in foreign currency. In PayPal's case, Paypal do not send you money in foreign currency. They send u money in INR. If you see the transaction description in your bank account you'll find that you get money via NEFT. As I know, PayPal transfer money to their Indian Citi Bank account and then you get the money from citi bank through NEFT system. I don't think you need to submit FIRC. Here is the Citi Bank's address for IFSC code CITI0100000 - http://ifsc.bankifsccode.com/CITI0100000#.U4gFrCj5E3U
technically we transferred our foreign currency but paypal send us in INR due to their own benefits, as per RBI rule if amount received in foreign currency then you don't need to pay service tax on it but in case of paypal withdraw we have to pay service tax as amount is in INR. This can be avoided if you ask FIRC to citibank (paypal)
@iBoot please correct me if I am wrong, but aren't all services provided out of the country not in the service tax bracket - even if it includes money getting routed through PayPal's Citibank account in INR. Won't FIRC only be required in case of a tax query?
Contact the bank where your PayPal withdrawals are credited to request a FIRC and a letter addressed to Citibank with the following information: Unique Transaction Reference number (UTR) Customer name Account number Amount of money Date and purpose of the payment We recommend that the letter also mention that the payment was received from PayPal. You can refer to a sample request letter. Please also inform your bank of the postal address you want the certificate(s) to be delivered to. For Details about customer care number, contact number and addresses of all branches of citibank you can visit here.
Contact the bank where your PayPal withdrawals are credited to request a FIRC and a letter addressed to Citibank with the following information: Unique Transaction Reference number (UTR) Customer name Account number Amount of money Date and purpose of the payment We recommend that the letter also mention that the payment was received from PayPal. You can refer to a sample request letter. Please also inform your bank of the postal address you want the certificate(s) to be delivered to. For Details about customer care number, contact number and addresses of all branches of citibank you can visit at Bankbazaar.com.
hello, did you find the branch, which is issuing the FIRC? Please help me, if you find a solution for this, I am also struggling to get FIRC. I think Citibank's corporate banks are providing these; Corporate Bank Locations across India Mumbai Citibank N.A. First International Financial Centre, Plot Nos C-54 and C-55, G-Block, Bandra Kurla Complex, Bandra East, Mumbai - 400051. Delhi Citibank, N.A., 5th Floor, DLF Centre, Parliament Street, New Delhi - 110 001. Bangalore Citibank, N.A., Canberra Block, 3rd Floor, UB City, 24, Vittal Mallya Road, Bangalore - 560 001. Chennai Citibank, N.A., Ground Floor, #2, Club House Road, Chennai - 600 002. Kolkata Citibank, N.A., Kanak Bldg., 41, Chowringhee Road, Kolkata - 700 071. Pune Citibank, N.A., 2413, Parmar House, East Street Camp, Pune - 411 001. Hyderabad Citibank, N.A., Ist Floor, Queens Plaza, S. P. Road, Begumpet, Secunderabad - 500 003. Ahmedabad Citibank, N.A., Rembrandt, C.G. Road, Near Panchvati Circle, Ahmedabad - 380 006. Vadodara Citibank, N.A., Pelican, Opp. Race Course Towers, Gotri Road, Vadodara - 390 007.