Income Tax Clearance Certificate/No Objection Certificate

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....tion Certificate Attention of Authorised Dealers is invited to the Notification F.No.500/152/96-FID dated November 18, 1997, issued by the Central Board of Direct Taxes (copy enclosed) in terms of which a person making remittance of foreign exchange could submit an undertaking in duplicate addressed to the Assessing Officer, which should be signed by a person authorised to sign the Income Tax Ret....

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....orised Dealers may bring the contents of this Circular to the notice of their constituents concerned. 5. The directions contained in this circular have been issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act 1999 (42 of 1999). Yours faithfully, Grace Koshie Chief General Manager Circular No.759 F.No.500/152/96-FTD Ministry of Finance Department of Revenue Ce....

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.... a No Objection Certificate has been obtained from the Income-tax Department. It has since been decided that henceforth remittances may be allowed by the Reserve Bank of India without insisting upon a No Objection Certificate from the Income-Tax Department and on the person making the remittance furnishing an undertaking (in duplicate) addressed to the Assessing Officer accompanied by a certificat....