Undertaking in lieu of Income Tax No Objection Certificate allows remittance after an accountant's certificate and declaration. An undertaking in duplicate addressed to the Assessing Officer, accompanied by a certificate from an independent accountant, may be accepted in lieu of an Income Tax clearance Certificate or No Objection Certificate to permit foreign exchange remittances; the Reserve Bank will forward a copy to the Assessing Officer. NRIs/PIOs without NRO accounts and without taxable Indian income may remit on a simple declaration as prescribed.
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.
Undertaking in lieu of Income Tax No Objection Certificate allows remittance after an accountant's certificate and declaration.
An undertaking in duplicate addressed to the Assessing Officer, accompanied by a certificate from an independent accountant, may be accepted in lieu of an Income Tax clearance Certificate or No Objection Certificate to permit foreign exchange remittances; the Reserve Bank will forward a copy to the Assessing Officer. NRIs/PIOs without NRO accounts and without taxable Indian income may remit on a simple declaration as prescribed.
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