Whether Branch Offices are permitted to remit profit outside India?
Ans. Branch Offices are permitted to remit outside India profit of the branch net of applicable Indian taxes, on production of the following documents to the satisfaction of the Authorised Dealer through whom the remittance is effected : a. A Certified copy of the audited Balance Sheet and Profit and Loss account for the relevant year; b. A Chartered Accountant’s certificate certifying – i . the manner of arriving at the remittable profit ii. that the entire remittable profit has been earned by undertaking the permitted activities iii. that the profit does not include any profit on revaluation of the assets of the branch.
Related Questions
- Is branch office or project office established with the permission of Reserve Bank permitted to remit outside India the profit of the branch or surplus of the project on its completion ?
- What are the documents that are required to be furnished by a person resident outside India for remitting the profit or surplus outside India?
- My company is based outside India, but we have Indian offices and vendors. Can I Use Chillibreeze services?
