Applications for remittances on account of refund of income-tax to foreign firms/companies should be made to authorised dealers on form A2 supported by the following documents/particulars:

(a) Original assessment order (together with certified copy) and copy of Income-tax Return for the corresponding assessment year.

(b) Certificate from authorised dealer through whom the income-tax refund order has been encashed that the proceeds of the refund order are held by them in suspense account pending remittance abroad.

(c) Source of funds from which tax was originally paid. If paid out of remittance from abroad, a bank certificate for the inward remittance; if tax was paid by deduction at source from dividend, interest on loans, royalty or other income which has already been remitted to the foreign firm/company, full details as under of the income on which tax was deducted should be furnished.

(1) Nature of income i.e. dividend, interest, royalty, etc. amount and assessment year in which it accrued.

(2) Name and address of Indian firm/company from which the income was derived.

(3) The year/period to which the income related.

(4) The date of remittance and other particulars of the amount originally remitted.

Authorised dealers may allow such remittances if they are satisfied that the tax amount of which the refund has been claimed was deducted from the amount remitted originally.

(See paragraph 11D 12 regarding remittance of income-tax refunds to individuals).