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of <h1>CBDT Circular No. 759: No Objection Certificate No Longer Needed for Non-Resident Remittances with Proper Documentation.</h1> Circular No. 759, dated November 18, 1997, issued by the Central Board of Direct Taxes (CBDT), eliminates the need for a no objection certificate from income-tax authorities for remittances to non-residents, provided an undertaking and accountant's certificate are submitted. The Reserve Bank of India (RBI) and authorized dealers are instructed to forward these documents to the Assessing Officer. Clarifications state that the undertaking must be signed by an authorized individual, such as a managing director, or their designee. The circular applies to remittances requiring a no objection certificate per RBI's Exchange Control Manual but excludes those with a section 195(2) order.
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