CIR. NO.77/2002-03-RB, DT. 10/02/2003
- Document type
- Circular
- Reference no.
- C
- Dated
- Category
- A.P. (DIR Series) Circulars
Current Account Transactions-Remittance for Advertisement on Foreign Television
Current Account Transactions-Remittance for Advertisement on Foreign Television
2. With a view to simplifying the procedure, it has been decided as under :-
- (i) A Chartered Accountants certificate, for export earnings of more than Rs.10 lakhs, in each of the preceding two years, need not be insisted in case the export earnings prescribed (i.e. minimum Rs.10 lakhs in each of the previous two years), have been realised through the same authorised dealer, through whom the remittance is sought to be made.
(ii) A Chartered Accountants certificate should, however, be obtained certifying that the remittance represents advertisement charges incurred by the Corporate towards telecast in foreign countries and not in India alone. This certificate will have to be obtained for each remittance.
4. The directions contained in this circular have been issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999).
Yours faithfully,
Grace Koshie
Chief General Manager