FEMA - Payment made to non-residents – Undertaking and CA certificate to be submitted

RBI in its circular has instructed that a remitter of foreign exchange is required to submit an undertaking and CA certificate to be submitted in prescribed form.

Undertaking and CA certificate are not limited to transactions on which TDS is to be deducted but also applicable to all payments related to trade.

[See: RBI/2007-2008/100 A. P. (DIR Series) Circular No. 03]