https://www.taxtmi.com/circulars?id=64669 The Board clarifies that the surety for a B-17 bond executed by an EOU/STP/EHTP must be an independent legal entity distinct from the obligor; proprietors of proprietorship EOUs and partners of partnership EOUs cannot act as sureties for their own firms. The circular recalls that individuals or corporate bodies distinct from limited company EOUs may act as sureties and that solvency of sureties may be certified by chartered accountants or bankers. All B-17 bonds should be reviewed for compliance and difficulties reported to the Board. en-us Wed, 03 Feb 2021 00:00:00 +0530 Wed, 03 Feb 2021 17:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=64669 The Board clarifies that the surety for a B-17 bond executed by an EOU/STP/EHTP must be an independent legal entity distinct from the obligor; proprietors of proprietorship EOUs and partners of partnership EOUs cannot act as sureties for their own firms. The circular recalls that individuals or corporate bodies distinct from limited company EOUs may act as sureties and that solvency of sureties may be certified by chartered accountants or bankers. All B-17 bonds should be reviewed for compliance and difficulties reported to the Board. Circulars Customs Wed, 03 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/circulars?id=64669