TCK [Paragraph 10 B.5(i)] Certificate for Payment of Technical know-how fee under Foreign Technical collaboration This certificate has reference to the foreign technical collaboration between M/s. __________________________________________________________________ (hereinafter referred to as "Indian company" and M/s. ___________________________________________ ______________ (hereinafter referred to as "oversees collaborator" for ____________________ _____________________________________________________________________________ _____________________________________________________________________________ (specify purpose) 2. The above collaboration has been approved by the Reserve Bank of India/Government of India, Ministry of Industry, vide its letter No. ___________________ dated ________________ and subsequent amendment(s) vide letter(s) No. (s) ____________________________________ dated __________________ setting out that a lump sum technical know-how fee of __________ ____________________ (amount) net of taxes/subject to taxes is payable to the overseas collaborator in ______________________________ (number) instalments (each being of _____ ___________________________________) on fulfilment of the condition governing payment of each such instalment. 3. The above collaboration bears Registration No. _________________________ accorded by RBI, FITT Section, Bombay/Reserve Bank of India, __________________ vide its letter number _______________________________________ dated ________________________. 4. A sum of __________________________ towards payment of instalment/s number(s) _____________________ has already been remitted on __________________ paid subject to fulfilment of obligation thereunder by the overseas collaborator. 5. A payment of __________________ net of tax/subject to tax towards________________________________ instalment has now become due to the overseas collaborator on their having completely fulfilled the obligation cast on them for receiving this instalment, under the collaboration agreement dated ___________and as approved by the Reserve Bank of India/Government vide its letter dated___________________ cited in paragraph 2 above. 6. We have verified the books of accounts, the collaboration agreement, Government's letter of approval, RBI's letter dated _________________________, technical documents and other relevant paper/documents etc. and having fully satisfied ourselves, hereby certify that : (i) the statement made above are true and correct to the best of our knowledge and belief; (ii) The Reserve Bank's/Government's letter of approval and subsequent amendment, if any, form part of the collaboration agreement, dated___________; (iii) the collaboration agreement in question has been concluded within the validity period of the Reserve Bank's/Government's letter of approval; (iv) the proposed payment does not in any way involve payment of any interest on delayed payment and/or any other payment which is not specifically permitted under RBI/Government's letter of approval dated _______________; (v) the Indian company has paid income-tax at the rate specified by the Government and deposited with _______________________________________________________ (Name of bank and branch) on __________________. OR a 'No Objection Certificate'/tax clearance certificate issued by____________________________________ vide No. ____________________ dated________________ is enclosed, in original; (vi) the indian company has paid cess under R & D Cess Act, 1986, on the amount of technical know-how fee in question; (vii) the Indian company has submitted to Reserve Bank of India, _______________________the Return in form TCD for the year ended 31st December________________; (viii) a payment of ______________________ has fallen due to the overseas collaborator after adjustment of income-tax as follows : a) Gross amount of payable instalment of fee b) Less amount reduced towards income-tax if the payment is "subject to tax" Balance payable Place : Chartered Accountant/Chartered Engineer (Signature of the authorised signatory) SEAL Name: . . . . . . . . . . . . . . . . . . . . . . . . . . . . Address: . . . . . . . . . . . . . . . . . . . . . . . . . . Date : Registration No. . . . . . . . . . . . . . . . . . . . . Notes: (i) Delete under authentication whatever is not applicable but no item/clause should be omitted from this format of the Certificate. (ii) Additional information, if any, may be supplied on separate sheet under proper authentication.
