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, Governments letter of approval, RBIs letter dated _________________________, technical documents and other relevant paper/documents etc. and having fully satisfied ourselves, hereby certify that :

1. the statement made above are true and correct to the best of our knowledge and belief;
   
   
2. the Reserve Banks/Governments letter of approval and subsequent amendment, if any, form part of the collaboration agreement, dated___________;
   
   
3. the collaboration agreement in question has been concluded within the validity period of the Reserve Banks/Governments letter of approval;
   
   
4. 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/Governments letter of approval dated _______________;
   
   
5. the Indian company has paid income-tax at the rate specified by the Government and deposited with _______________________________________________________on __________________.
   (Name of bank and branch)
   
   OR
   
   a No Objection Certificate/tax clearance certificate issued by____________________________________ vide No. ____________________ dated________________ is enclosed, in original;
   
   
6. the indian company has paid cess under R & D Cess Act, 1986, on the amount of technical know-how fee in question;
   
   
7. the Indian company has submitted to Reserve Bank of India, _______________________the Return in form TCD for the year ended 31st December________________;
   
   
8. 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 payments is "subject to tax"	_________________________________________
   	Balance payable	_________________________________________

Place: Date:	Seal	Chartered Accountant/ Chartered Engineer (Signature of the authorised signatory)
		Name:_______________________________ Address:_____________________________ 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.