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(a) Remittance of Current Income by Non-Resident Indians (NRIs)/Persons of Indian Origin (PIOs) – No Objection Certificate (b) Repatriation of NRNR Deposits
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Remittance of current income: non taxable NRIs may remit with a declaration; tax compliance evidence required otherwise. NRIs/PIOs without taxable income and not maintaining NRO accounts need not furnish a Chartered Accountant's certificate for remittance of current income; Authorised Dealers may accept a duplicate declaration that the remitter is not a taxpayer in India and retain it for tax authorities. Current income may be credited to NRE accounts only when the dealer is satisfied it represents current income and that income tax has been deducted/paid/provided for; the CA certificate or tax declaration requirement applies otherwise. Maturity proceeds of NRNR deposits should be credited to NRE accounts and may be repatriated if the accountholder lacks an NRE account.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Remittance of current income: non taxable NRIs may remit with a declaration; tax compliance evidence required otherwise.
NRIs/PIOs without taxable income and not maintaining NRO accounts need not furnish a Chartered Accountant's certificate for remittance of current income; Authorised Dealers may accept a duplicate declaration that the remitter is not a taxpayer in India and retain it for tax authorities. Current income may be credited to NRE accounts only when the dealer is satisfied it represents current income and that income tax has been deducted/paid/provided for; the CA certificate or tax declaration requirement applies otherwise. Maturity proceeds of NRNR deposits should be credited to NRE accounts and may be repatriated if the accountholder lacks an NRE account.
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