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 ... Summary
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.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
