Form 10h of Income Tax Act
What makes the form 10h of income tax act legally valid?
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People also ask what is 10h
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What is the purpose of Form 10H?
Purpose of remittance as stated by remitter * /beneficiary . We also signNow that the payment thereof has/has * not been received in non-convertible rupees or under any special trade or payments agreement.
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What is Form No 10?
Form 10-ID is required to filed only if a domestic company chooses to opt for concessional tax rate of 15% (plus applicable surcharge and cess) under Section 115BAB of the Income Tax Act, 1961.
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What is foreign inward remittance certificate in India?
A Foreign Inward Remittance Certificate or FIRC is a document that acts as proof of inward remittance to India. In other words, if you are an exporter and receive payment in the form of foreign currency, this document will act as proof of that transfer. Obtaining the FIRC is a long process and can take over six months.
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Is there any limit for inward remittance?
There is no limit on the remittance amount as well as on the number of remittances. However, there is an upper cap of Rs. 15.00 lakh for trade related transactions....Remittances [Money Transfer Service Scheme (MTSS) and Rupee Drawing Arrangement (RDA)] Rupee Drawing Arrangement (RDA)9Who is an Overseas Principal?14 more rows
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