Form 38: Certificate of foreign inward remittance
Source checked 21 October 2026 · Original author: Finin2min Editorial Desk
Purpose, person and period
Certificate of foreign inward remittance.
The beneficiary bank certifies receipt in convertible foreign exchange. A taxpayer’s own worksheet cannot replace the bank’s certificate.
Period gate: This numbered form belongs to the Income-tax Rules, 2026, effective 1 April 2026. The predecessor 10H is a concordance, not permission to change an earlier-year filing into a new-law form. For earlier periods, use the applicable 1961 Act form and saved procedure.
Controlling rule and source pages
Rule 72; Section 152(6). Physical PDF pp 405-406; printed Gazette pp 1937-1938.
Rule 72 — connected rule text
72. The prescribed authority and form of certificate to be furnished under sections 151(6) and section 152(6).– For the purposes of sections 151(6) and 152(6),– (a) the prescribed authority shall be the Reserv e Bank of India or another authorised authority under current laws regulating foreign exchange transactions; and (b) the certificate shall be furnished in Form No. 38.
Completed field illustration
Fictional data, not for filing. A neutral beneficiary-bank certificate-field illustration converts one fictional foreign remittance using an expressly assumed rate.
| Form field / block | Completed fictional entry |
|---|---|
| Beneficiary / PAN / tax year | Priya Arun Sharma / synthetic ZZZPS0000Z / 2026-27 |
| Certificate number | MODEL-FIRC-038 - not an issued bank certificate |
| Beneficiary account / bank | MODEL-ACCT-038 / Example Bank, Pune |
| Remitter / address | Example Overseas Publisher / 10 Example Street, London, UK |
| Remitting bank / address | Example Overseas Bank / London, UK |
| Mode / transaction ID / transaction date | Bank transfer / MODEL-TXN-038 / 15 September 2026 |
| Foreign currency amount | USD 1,000 |
| Exchange rate applied | Rs 85 per USD, fictional assumption rather than a historical quote |
| Rupee equivalent | Rs 85,000 |
| Purpose stated by remitter | Royalty for a literary work - assumed |
| Beneficiary-bank authentication | NOT ISSUED; NOT SIGNED; no bank approval or purpose-code conclusion |
This illustrates the named fields, not every possible schedule. Use the complete official extract for additional applicable fields, annexures and verification. “Not signed” means no professional certification or authority action has occurred.
Reconcile the example
- USD 1,000 × assumed Rs 85/USD = Rs 85,000.
This demonstrates the prescribed currency, rate and rupee-value fields. It is not a genuine FIRC and is not evidence that a remittance was received.
Prepare, furnish and retain
- Use the form identity and period above, then determine the person who prepares, issues or verifies it from Rule 72. An authority-issued order is not an applicant filing.
- Collect the records that support the actual fields in the example; keep any mandatory schedules and annexures specified in the complete source form.
- Reconcile dates, amounts, units and identifiers to the underlying records. Preserve the applicable rule version and any later correcting notification.
- Where the rule prescribes electronic furnishing, use the current official utility/schema and authorised verification. A local PDF does not produce a portal acknowledgement.
- Retain the submitted version, supporting schedules and actual acknowledgement or issued certificate/order, as applicable. This fictional model supplies none of those evidential outcomes.
Download the correct documents
Official Form 38 source extract Filled sample — fictional field illustration
The official extract preserves source pages; later amendments are supplied with affected forms. Read the April corrigendum where its printed-page corrections apply. The filled field illustration is an educational model and cannot be filed.
Primary sources
Questions readers ask
Does this sample prove approval, filing or a professional conclusion?
No. It completes the named fields using synthetic facts. It has no real signature, DSC, approval or acknowledgement.
Can I use the legacy form number for a current tax-year obligation?
Establish the governing period first. A predecessor number is a cross-reference; earlier-year procedures and current-year forms must be kept distinct.