TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>RBI Updates Forex Remittance Rules: Accept Undertaking & Accountant's Certificate Instead of Tax Clearance for NRIs/PIOs.</h1> The Reserve Bank of India issued a circular on September 28, 2002, addressing authorized dealers in foreign exchange regarding the submission of Income Tax Clearance Certificates or No Objection Certificates for foreign exchange remittances. Instead of these certificates, authorized dealers may now accept an undertaking and an accountant's certificate as per the Central Board of Direct Taxes notification from November 18, 1997. For NRIs/PIOs without taxable income in India, a simple declaration suffices. These changes are under the Foreign Exchange Management Act, 1999. The circular aims to streamline remittance processes and must be communicated to relevant parties.
TaxTMI 
TaxTMI 
