Convertible foreign exchange clarification: non convertible rupee receipts from bilateral account countries and government credits qualify for deductions. The circular reiterates that the expression 'convertible foreign exchange' for purposes of deductions tied to foreign project income, export proceeds and royalties/commissions/fees also includes amounts received in non convertible rupees from bilateral account countries and receipts in Indian rupees under Government to Government credit, but excludes remittances from Nepal and Bhutan.