Are OCBs required to produce any certificate regardingownership/ 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 where the ownership/beneficial interest is directly held by NRIs, and 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
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- Are OCBs required to produce any certificate regarding ownership / beneficial interest in them by NRIs?
- Are OCBs required to produce any certificate regardingownership/ beneficial interest in them by NRIs?
