Validity period of 15ca 15cb certificates & remittance mode

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

15 January 2013 NRI wants to remit $ 100 abroad.so he obtained 15CA and 15CB certificates from a Chartered Accountant which are issued on 01/01/2013 for $ 100 :-

i have 2 questions :-

1) Within how many days NRI can remit funds for which he has obtained above certificates. is there any period specified under any guidelines which specifies the period before which he should remit funds failing of which certificates stand invalid.

2) can i remit funds in installment for eg : i have got a certificate for $ 100 then can i remit $ 10 in first month, $ 20 in second month and balance $ 70 in third month ? or do i have to remit the entire amount specified on a certificate i.e.
$ 100 at one time only ?

PLSS HELP..!!!!

CA Sumat Singhal

CA Sumat Singhal (Expert)
Follow

15 January 2013 Dear Anonymous;
In my opinion
certificate is valid for a year and company is required to remit the same with in a FY
no such restriction in instalments payment.
opinions are invited.
regards,
CA Sumat Singhal

Querist : Anonymous

Querist : Anonymous (Querist)

16 January 2013 CA Sumat Mangal..

Thanks for your help..

so u mean certificate is valid per financial year ?so if i have issued on 1/1/2013, it will be valid till 31/03/13 ?

are there any guidelines specified anywhere?
or it depends upon the Bank's terms and conditions?

Upgrade to CAclubindia Pro. Subscribe Now!