Liaison office closing procedure

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 January 2010 Respected.
We require close the liaison office. please provide the procedure. which type of NOC required from Income Tax Department.(because we dont have any tax liabilities except tds deduction, which we paid allready). and from where we take this NOC. and how many days take this all formalities?

N Muralidharan

N Muralidharan (Expert)
Follow

12 January 2010 PLEASE VISIT
http://www.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=1284

IT IS STATED AS BELOW:-

iii) Closure of Branch / Liaison Office/s
With effect from July 01, 2008, the work related to closure of Branch / Liaison Offices, hitherto being
done by the Reserve Bank (Central Office in the case of Branch Offices and Regional Office in the case of
Liaison Offices), will be handled by the designated AD Category - I bank. The closure formalities shall be
dealt with in accordance with Regulation 6 (1) (iii) of Notification No. FEMA 13/2000-RB dated May 3, 2000.
In terms of the aforementioned Regulation, following documents are required to be obtained by the
designated AD Category â€“ I bank :

FURTHER IT IS STATED AS :-

c) No-objection / Tax Clearance Certificate from Income-Tax authority for the remittance/s or an
undertaking from the applicant and a certificate from a Chartered Accountant as mentioned in A. P. (DIR
Series) Circular No. 56 dated November 26, 2002.