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August 2014

A. P. (DIR Series) Circular No. 151 dated 30th June, 2014

By Gaurang Gandhi Chartered Accountant
Reading Time 1 mins
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Remittances to non-residents – Deduction of Tax at Source

This circular states that henceforth the RBI will not issue any instructions under the FEMA with respect to deduction of tax at source at the time of making remittances to the non-residents. Banks are, as a result, now required to comply with the requirement of the applicable tax laws in this regards.

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