TaxTMI 
TaxTMI 
Clarification on Personal IEC code.
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....larification on Personal IEC code.<br> Query (Issue) Started By: - Kishan Barai Dated:- 21-3-2016 Last Reply Date:- 24-3-2016 Customs - Exim - SEZ<br>Got 2 Replies<br>Customs<br>Respected Sir / Madam Recently one of my student has applied for personal IEC code in DGFT Rajkot office. There the authority rejected the proposal for personal IEC & said you can not get the IEC code with savings bank ac....
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....count. Earlier my south student got the IEC with savings account. If we refer to the latest IEC notification you require 3 documents to get the IEC online. 1. PAN Card 2. Cancelled Cheque or Bank Certificate with Name of Applicant/ Firm with IFSC code. 3. Digital Photo In that if you refer to bank format it goes like this...... (Name of the bank/branch address detail) Ref No. ................
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................... To Office of the Regional Authority of DGFT .................. .................... ................... (please fill in the address of the concerned jurisdiction Regional Authority) Sir/ Madam It is certified that M/s. (Name of the account holder)* ………………………whose address as per the bank records is ……&helli....
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....p; is/ are maintaining a Savings Bank Account / Current Account (tick whichever is applicable) No. ....... with us, since .................. ... Affix Passport Size Photograph of the authorised account holder* Note: The photograph as affixed and attested is of the account holder**. [This does not apply in cases where the account holder is an institute/ company (LLP/ Private/ Public/Govt. Undertaki....
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....ng / Section 25 Company)] (Signature of the issuing authority) (Not below the rank of Manager) Name……….... Designation ……….... IFS Code of the issuing bank: ……….... Email id of the bank: ……….... Date: ……….... Place: ……….... (Banks' Stamp) I did not find any rules or regula....
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....tions which says that IEC can be issued against Current Account only & you can see the above gov format Savings Bank Account / Current Account (tick whichever is applicable). My question is can one issue personal IEC with savings account ? & Is there any circular or notification which could help me to convince the staff of Rajkot DGFT office. Thank you very much in advance........ Reply By mal....
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....ay pota: The Reply: Dear Kishan There is no notification but DGFT office can not say that they will not issue IEC if Bank account is a saving account because there in no such restriction in the entire FTP and HB of FTP moreover the attched format of bank certificate itself shows maintaining saving / current account. Part B Appendix 18 A FORMAT OF BANK CERTIFICATE FOR ISSUE OF IEC (To be issued ....
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....on the official letter head of the Bank) ________________________________________________________________ Ref No. …………………. To …………………………. …………………………. …………………&hell....
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....ip;……. (Name and address of the licensing authority) Sir / Madam, We certify that M/s……………………………………………(Name and Address of the applicant) are maintaining a Savings Bank Account / Current Account (tick whichever is applicable) No. …………&hell....
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....ip;……….. with us since ……………… ………………………… Affix Passport Size Photograph of the applicant Note : The Banker must identify and attest the photograph. (Signature of the Banker) Name ……………………. Designation …&h....
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....ellip;……….. Date : …………… Place : ……………… Email ID of the Banker: [Email ID of the official issuing this Bank Certificate] (Banks Stamp) Reply By Kishan Barai: The Reply: Thanks a lot sir, that's the same thing I told to DGFT office at Rajkot.<br> Discussion Forum - Knowledge Sharing ....