https://www.taxtmi.com/forum/issue?id=121047 FEMA and RBI requirements discussed require export proceeds to be realised and routed through an Authorised Dealer bank, but identify no express mandate that a sole proprietor receiving software-service export proceeds maintain a Current Account. Purpose codes are reporting classifications, and no express prohibition on correcting an erroneous code is identified where invoices or contracts establish that the remittance concerns software services. A refusal to correct a misclassification may be escalated through the bank's grievance process and, if necessary, the RBI Integrated Ombudsman. en-us Tue, 28 Jul 2026 16:01:36 +0530 Tue, 28 Jul 2026 17:58:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=121047 FEMA and RBI requirements discussed require export proceeds to be realised and routed through an Authorised Dealer bank, but identify no express mandate that a sole proprietor receiving software-service export proceeds maintain a Current Account. Purpose codes are reporting classifications, and no express prohibition on correcting an erroneous code is identified where invoices or contracts establish that the remittance concerns software services. A refusal to correct a misclassification may be escalated through the bank's grievance process and, if necessary, the RBI Integrated Ombudsman. Discussion-Forum Companies Law Tue, 28 Jul 2026 16:01:36 +0530 https://www.taxtmi.com/forum/issue?id=121047