IN
a significant
policy decision granting relief to Branch Office and Liaison Office of
non-resident companies, the RBI has decided to shift the deadline for furnishing
Annual Activity Certificates (AACs) from March 31 to Septmber
30.
BOs
and LOs had represented to the RBI that they were facing
problems in submitting their annual activity report by March 31 every year.
Taking a liberal view of their difficulties, the RBI reviewed the current
calendar for the same. Accordingly, the AACs from the Auditors, as at end of
March 31, along with the audited Balance Sheet may now be submitted on or before
September 30 of that year. In case the annual accounts of the LO/ BO are
finalized with reference to a date other than March 31, the AAC along with the
audited Balance Sheet may be submitted within six months from the due date of
the Balance Sheet.
|
