No objection certificate requirement for remittances: tax officers instructed to issue certificates promptly to avoid hardship. A No Objection Certificate from the Income Tax Officer is required by the Reserve Bank before permitting remittances abroad for royalties, technical service fees, and similar receipts; the Board established and amended a standardised NOC form and now directs Income Tax Officers to issue the certificate promptly to avoid hardship and delays to foreign collaborators awaiting RBI clearance.
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.
No objection certificate requirement for remittances: tax officers instructed to issue certificates promptly to avoid hardship.
A No Objection Certificate from the Income Tax Officer is required by the Reserve Bank before permitting remittances abroad for royalties, technical service fees, and similar receipts; the Board established and amended a standardised NOC form and now directs Income Tax Officers to issue the certificate promptly to avoid hardship and delays to foreign collaborators awaiting RBI clearance.
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