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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..... ection 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. C .....

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..... . The person making 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 .....

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..... 3. In accordance 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, .....

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..... or deducting tax, the new procedure of filing an undertaking along with a certificate prescribed in Circular No. 759 would not be applicable. 5. 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] - Circular - Trade Notice - Public Notice - Instruction .....

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