https://www.taxtmi.com/manuals?id=6369 Permissible credits to a Project Office INR account are limited to head office funds remitted through normal banking channels for office expenses and rupee amounts receivable under contract; no other credits without prior Reserve Bank permission. Permissible debits are limited to local expenses and intermittent remittances pending winding up or project completion. For intermittent remittances the authorized dealer must verify bonafides and obtain an auditors'/chartered accountants' certificate confirming sufficient provisions for liabilities in India including income tax, and an undertaking from the Project Office that the remittance will not affect project completion and that any shortfall will be met by inward remittance. en-us Tue, 10 Dec 2024 14:36:00 +0530 Tue, 10 Dec 2024 14:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=6369 Permissible credits to a Project Office INR account are limited to head office funds remitted through normal banking channels for office expenses and rupee amounts receivable under contract; no other credits without prior Reserve Bank permission. Permissible debits are limited to local expenses and intermittent remittances pending winding up or project completion. For intermittent remittances the authorized dealer must verify bonafides and obtain an auditors'/chartered accountants' certificate confirming sufficient provisions for liabilities in India including income tax, and an undertaking from the Project Office that the remittance will not affect project completion and that any shortfall will be met by inward remittance. Manuals FEMA Tue, 10 Dec 2024 14:36:00 +0530 https://www.taxtmi.com/manuals?id=6369