CBDT Circular No. 759, dated November 18, 1997, on the Subject remittance to a non-resident—Deduction of tax at source—Submission of no objection certificate--Dispensing with--Clarification reg

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....on certificate--Dispensing with--Clarification reg Circular No. 767 Dated 22/5/1998 To All the Chief Commissioners of Income-tax, Directors-General of Income-tax. Sir, Subject: CBDT Circular No. 759, dated November 18, 1997, on the Subject remittance to a non-resident—Deduction of tax at source—Submission of no objection certificate--Dispensing with--Clarification reg. Circular No. 759....

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....king the remittance had to submit the undertaking along with the said certificate of the accountant to the Reserve Bank of India, who would, in turn, forward a copy thereof to the Assessing Officer. 2. A number of references have been received by the Board stating that the Reserve Bank of India had delegated powers to authorised dealers to allow certain types of remittances to non-residents witho....

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....with Circular No. 759, [1997] 228 ITR (St.) 146, the undertaking to be submitted by the person making the remittance to a non-resident is required to be signed by the person authorised to sign the return of income of the person making the payment. The person authorised to sign a return of income in the case of a company, in accordance with section 140 of the Income-tax Act, 1961, is the managing d....