TaxTMI 
TaxTMI 
Remittance to a non-resident Deduction of tax at source Submission of No Objection Certificate Dispensing with Regardings
X X X X Extracts X X X X
X X X X Extracts X X X X
....of Income-tax Sir, Subject : Remittance to a non-resident_Deduction of tax at source_Submission of No Objection Certificate_Dispensing with_Regardings. 1. Section 195 of the Income-tax Act, 1961, provides that any person responsible for paying to a non-resident any sum chargeable under the Act shall, at the time of credit of such income to the account of the payee or at the time of payment ther....
X X X X Extracts X X X X
X X X X Extracts X X X X
....rson making the remittance shall submit the undertaking along with the said certificate of the accountant to the Reserve Bank of India, who in turn shall forward a copy thereof to the Assessing Officer. 3. The contents of this circular may be brought to the notice of all the officers working in your charge. Yours faithfully, (Sd.) Rajat Bansal, Under Secretary (FTD). [F. No. 500/152/96-FTD] ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....t . . . . . . . ., which is the appropriate rate of tax deductible at source on the said amount of remittance. 2. A certificate from the accountant as defined in the Explanation below section 288 of the Income-tax Act certifying the nature and amount of income, amount of tax payable and the amount actually paid, is also annexed. 3. In case it is found that the tax actually payable on the amount ....
X X X X Extracts X X X X
X X X X Extracts X X X X
..... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (name, address and permanent account number of person making the remittance) for ascertaining the nature of the remittance, of . . . . . . . . . . . . . . . . (amount of remittance) to . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .....