Certificate for foreign inward remittance enables tax deduction eligibility after bank and assessee certification under prescribed form. Amendment inserts rule 29AA and prescribes Form No. 10HA as the certificate under the second proviso to section 80-O. Part A requires a bank certificate detailing remittance mode, remitter and remitting bank particulars, transfer reference, foreign and rupee amounts, exchange rate, purpose of remittance, and RBI-approved reimbursement statement. Part B requires the eligible assessee to declare inward remittance received, whether convertible foreign exchange was brought into India within six months (or an authorised extension), specification of any amounts repatriated beyond that period with competent authority approval, and a certification that the deduction claimed is correctly made.
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.
Certificate for foreign inward remittance enables tax deduction eligibility after bank and assessee certification under prescribed form.
Amendment inserts rule 29AA and prescribes Form No. 10HA as the certificate under the second proviso to section 80-O. Part A requires a bank certificate detailing remittance mode, remitter and remitting bank particulars, transfer reference, foreign and rupee amounts, exchange rate, purpose of remittance, and RBI-approved reimbursement statement. Part B requires the eligible assessee to declare inward remittance received, whether convertible foreign exchange was brought into India within six months (or an authorised extension), specification of any amounts repatriated beyond that period with competent authority approval, and a certification that the deduction claimed is correctly made.
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