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    <description>Annual Activity Certificate requires BO/LO/PO of foreign entities to submit an auditor signed certificate and audited financial statements confirming activities conformed to permissions granted by the Reserve Bank or designated AD Category I bank; project offices must also certify project status and attest that no inter project fund transfers occurred without prior Reserve Bank approval. The AAC and audited accounts must be filed with the designated AD Category I bank and a copy provided to the tax authority by the prescribed deadline, with allowance for alternate year ends within six months of the balance sheet date; multiple offices file a combined AAC via the nodal office.</description>
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