https://www.taxtmi.com/circulars?id=52842 AD Category I banks may permit transfer of assets of Liaison, Branch and Project Offices to Indian subsidiaries, joint ventures or other entities when the foreign entity intends to close its operations, provided the office has complied with reporting and registration requirements, a Statutory Auditor certificate detailing acquisition, book value and sale consideration (not exceeding book value) is furnished, assets derive from inward remittances and applicable taxes are paid; AD banks must preserve documents and ensure subsequent closure procedures are followed. en-us Thu, 12 Jun 2014 00:00:00 +0530 Thu, 12 Jun 2014 16:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=52842 AD Category I banks may permit transfer of assets of Liaison, Branch and Project Offices to Indian subsidiaries, joint ventures or other entities when the foreign entity intends to close its operations, provided the office has complied with reporting and registration requirements, a Statutory Auditor certificate detailing acquisition, book value and sale consideration (not exceeding book value) is furnished, assets derive from inward remittances and applicable taxes are paid; AD banks must preserve documents and ensure subsequent closure procedures are followed. Circulars FEMA Thu, 12 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/circulars?id=52842