Are OCBs required to produce any certificate regarding ownership / beneficial interest in them by NRIs ?
Yes. In order to establish that the ownership/beneficial interest in any OCB held by NRIs is not less than 60%, the concerned body/ trust is required to furnish a certificate from an overseas auditor/chartered accountant/certified public accountant in form OAC where the ownership/ beneficial interest is directly held by NRIs. and in form OAC 1 where it is held indirectly by NRIs and further that such ownership interest is actually held by them and not in the capacity as nominees.
Related Questions
- Back to Top of Index Question-4: Are OCBs required to produce any certificate regarding ownership/beneficial interest in them by NRIs ?
- Are OCBs required to produce any certificate regarding ownership / beneficial interest in them by NRIs ?
- Are OCBs required to produce any certificate regarding ownership / beneficial interest in them by NRIs?
