No objection certificate for making remittances. - Income Tax - 1423/CBDT

INSTRUCTION NO. 1423/CBDT Dated: November 3, 1981 As you are aware a 'No objection Certificate' from the ITO is required by the RBI before the remittance abroad is allowed in respect of income of nature of royalty fees for technical services passage/freight collections, etc. You may please also recall that a standardised form of the 'No objection certificate had been presented by the board vide Instruction No.1055 (F.No.485/9/76-FTD), dated the 2nd May 1977. Modifications in the said form were made vide instruction No.1092 (F.No.484/24/76-FTD) dated the 30th August 1977 and No.1150 dated the 14th February, 1978. 2. It has been brought to the notice of the Board that the issue of No Objection certificate takes a long time and thus the permission from the RBI for remittance to foreign collaborator is delayed causing undue hardship to the foreign collaborator. You are therefore requested to impress upon the ITOs to issue No Objection certificate in time to eliminate such hardships if any faced by the foreign collaborators.