1. No penalty u/s. 221/271/273 was levied on the assessee during the last financial year.
2. The assessee was not prosecuted under the Income-tax Act at any time.
3. The assessee has furnished complete information about all companies in which he is substantially interested and the firms and association of persons in which he is partner or member respectively,
4. The returns income due from the assessee have been filed.
5. The assessee has paid all tax demands due other than those which have been stayed by competent authority.
6. The assessee has been cooperating with the Department in facilitating the completion of the pending assessments.
7. There is no information before the ITO that the companies in which the assessee Is substantially interested and firm and association of persons in which he is a partner or member respectively, are deliberately not filing the returns or not paying the tax demands or not cooperating with the Department in facilitating the completion of the pending assessments.
8. There is no information before the ITO that persons having a substantial interest in the applicant company/being members of the applicant association/being partners of the applicant firm are deliberately not filing their returns of income or not paying their demands or not cooperating in facilitating the completion of the pending assessments.

The exemption certificate is valid for one year.

1. Name and style of the Company, Firm, H.U.F. or individual, in which the applicant is assessed or assessable to income-tax and address for the purpose of assessment.
   
   
2. Names and addresses of all companies, firms or association of persons in which the applicant is substantially interested in his individual or judiciary capacity.
   
   Note : For the purposes of clause (2) above the words substantially interested would have the same meaning as in explanation to section 40A(2).
   
   
3.      
   1. The Income-tax Circle/Ward/District in which the applicant is assessed to tax and the permanent A/c. No.
   2. In the case of partnership firm :—
      
      

      Name of the partner and the address	Permanent A/c No.	Income-tax Circle/Ward where assessed
      1	2	3

      
      
      
4. The following particulars are to be furnished concerning the Income-tax assessment for the 5 years
   
   

   Year	Total income assessed	Tax demanded	Tax paid	Balance due
   1	2	3	4	5

   
   
   
5. 1. Whether any penalty for concealment has been imposed under the provisions of the Income-tax Act, 1961 or Wealth-tax Act, 1957 on or after 1st April, 1975.
      1. If the answer is in affirmative give the date, amount of penalty imposed and section under which imposed.
      2. Whether any appeal has been filed against the penalty order before the Appellate Assistant Commissioner of Income-tax or before the Income-tax Appellate Tribunal. If so, the result thereof alongwith the date of appellate order.
   2. Whether convicted for an affiance within the meaning of sec. 277 of the Income-tax Act, 1961 or u/s. 36(2) of the Wealth- tax Act, 1957 or u/s. 199/200 of the Indian Penal Code. If so, the date of the conviction order.
   3. Details of total contract amount received by the applicant whose name is mentioned against (1) above during the preceding five years.
      
      

      Date of previous year ending	Assessment Year	Total Amount	Contract received	The name of the Authority or person from whom amounts are received
      1	2	3	4	5

      
      
      
6. In case there has been no IT. Assessment in any year, whether returns have been submitted u/s. 139(1), 139(2) and 133 of the IT. Act, 1961 or tax has been paid in advance under section 210(3) of the IT. Act, 1961 and if so, the amount of income returned for each year and tax for each of the four years mentioned above and the IT. Circle/Ward/District concerned where such returns have been filed giving reasons for the same.
   
   

   Assessment Year	Income  returned	Tax paid on Self Asst. u/s 140A	Tax paid in  Advance u/s, 210	Date of payment
   1	2	3	4	5

   
   
   
7. Whether any attachment recovery proceedings are pending in respect of the arrears.
   
   
8. The name and address of branch(es), if any.

I declare that the above information is correct and complete to the best of the information and belief.

Address :                                                         Signature of the Contractor

Registration No.

Note :

1.  Tax in column 3 & 4, pair 4 include all items viz. IT., ST. Surcharge too.

2.  If any tax remains unpaid reasons should be explained in an attached statement.

I hereby certify that :-

1. The information contained in this application has been verified from the assessment records and found correct.
2. The assessee has paid all tax demands due other than those which have been stayed by the competent authority.
3. The assessee has been cooperating with the Department in facilitating the completion of the pending assessments.
   1. The period of three years has expired from the date of the Appellate order of the Income tax Appellate Tribunal confirming or partially confirming the penalty;

      Or

      In case where no appeal has been filed by the assessee against the penalty imposed; period of three years has expired from the date of the imposition of the penalty.
   2. The period of three years has expired from the date of the order of conviction under section 277 of the Income-tax Act, or under section 56(1) of the Wealth Tax Act, 1957 or under section 199/ 200 of the India Penal code.

This certificate is valid for a year from the date of its issue.

Note :- Delete whichever is inapplicable in the above certificate.

1. Under the provisions of section 230 of the Income-tax Act, 1961 it has been prescribed interlace, that a person who is not domiciled in India can not leave the territory of India by land, sea or air unless he obtains a certificate from the "Competent Authority" that he has no liability under various Acts mentioned therein, or that satisfactory arrangements have been made for the payment of all or any of such taxes which are or may become payable by that person.
   
   
2. One of the methods of ensuring that satisfactory arrangements have been made for the payment of such taxes is by way of obtaining guarantee from the employer of the person leaving the country that any tax found due will be paid by the employer (guarantor). Under the existing procedure the guarantee tendered by the guarantor
   ceases to be operative three months after the return, if the employee remains in India during the said period of three months and the guarantor gives prompt notice to the Assessing Officer concerned of the employee's return to India.
   
   
3. A number of representations have been received by the Board that the procedure of obtaining the tax clearance certificate in the cases of foreign employees not domiciled in India, each and every time such employee wants to go abroad, is cumbersome and time consuming. In order to alleviate this difficulty, it has been decided to provide the facility of one-time clearance certificate to the foreign employee not domiciled in India who has a fixed tenure of service in India of apt five years to travel abroad any number of times during the period of the contract of his service.
   
   
4. This one-time clearance certificate will be given in the case of those foreign employees whose employer gives a guarantee in the prescribed form that if any tax is found due against the employee during the entire period of the contract of service plus two year, the same shall be paid by the employer. The guarantee may also cover the tax liabilities of the spouse and dependents of the foreign employee; in such a case the spouse and dependents of the employee would also be entitled to the benefit of one-time clearance certificate. The revised form of guarantee which is to be used for the above purpose is enclosed. The above procedure will apply only in such cases where the employer of the foreign employee is an Indian concern, or a foreign concern which is assessed to tax in India and has a fixed place of business in India. Where the foreign employee is not interested in obtaining such a guarantee from the employer or the employer is not willing to furnish such a guarantee, the hitherto existing procedure will continue to be followed.
   
   
5. In cases where the guarantee in the revised form is famished, the tax clearance certificate to be issued by the Assessing Officer, Foreign Section will be made valid for journeys to be performed by the foreign employee apt the last date of the contract of service as mentioned in the guarantee form. The concerned Chief Commissioner/Director General of Income-tax will have the right to withdraw the facility in suitable cases in the interest of revenue.

The Government has formulated a scheme to attract NRI (Non­resident Indians) investment in housing and the related sector keeping in view the requirements of NRIs and concerned institutions. The scheme will cover investment by NRIs in housing and real estate ventures, housing finance institutions, building material units, etc., in terms of existing guidelines.

The Government will also make it easier and attractive for intending NRI purchaser of houses in various countries to acquire, rent, gift and reside in housing colonies in different cities so long as they make payments in foreign exchange and repatriate original investments. Repatriation of profits and dividends after taxation in respect of manufactures and building materials, participatory ventures in real estate, and investment in housing finance institutions will continue.

For co-ordinating decisions on policies and procedures relating to NRI investment, a nodal cell will be set up in NHB (National Housing Bank) with representation of all concerned agencies and nominees of the State Governments. This will be supervised by the Ministry of Urban Development.

A joint sector Rating Agency will be set up to grant approved status/accredation to public and private builders conforming to established criteria. On the strength of the approved status of builders, necessary clearance in respect of the builder's project will be given for the construction and provision of services at the local level by State and city agencies.

Upto 5 per cent of sale proceeds in each scheme subject to a ceiling of Rs.25 lakhs, exclusive of the foreign exchange for travel and advertisement, will be released in foreign exchange to the builders towards expenses for marketing the houses including payment of commission and promotion of schemes on an international basis.

The NRIs with foreign passports will be permitted to acquire, in foreign exchange, immovable properties and only notify RBI. They will also be permitted to acquire, hold, transfer or dispose of properties by way of sale or inheritance, provided purchases for bonafide residential purpose and the sale consideration is met out of foreign exchange. They will also be permitted to let out the properties on rent.

Gifting of properties by NRIs to relatives will be freely permitted subject to taxation without the requirements of prior permission. NRIs will be permitted to acquire upto two houses provided the purchase is effected with foreign exchange. The required permission for purchase of the house under section 269UC of the Income-tax Act, 1961, will be given by Income Tax Department within 15 days to 30 days.

In line with the general policy for encouraging NR1 investment in various sectors, the Government has been concerned about promoting substantial inflow of NRI investment in foreign exchange for the construction and purchase of residential houses and real estate in different cities. While scattered investments are now taking place, there has been no co-ordinated large scale effect for attracting such investments for housing and real estate. NRIs have been facing a number of problems in investment in the acquisition of houses. Its sale and renting on account of present procedures of a number of Central and State Departments and regulations of RBI, CEDT, etc.

In the light of the liberalised provisions of the new Industrial Policy, it is expected that NRIs will collaborate with the Indian counterparts in the area of house construction or real estate or manufacture of building materials subject to stipulations on investment and imports announced by the Government from time to time.

Upto Rs. 1,500 crores in foreign exchange is expected to be mobilised in two years through projects to be taken up in various cities,

1. In consideration of a certificate being issued by the Income-tax Officer/Assistant Commissioner of Income-tax/Deputy Commissioner of Income-tax (Ward/District/Circle/Range) under the provisions of Section 230 of the Income-tax Act, 1961 in the favour of (NAME OF FOREIGN EMPLOYEE, SPOUSE AND DEPENDENTS) hereinafter referred to as the assessee(s), notwithstanding that the assessee(s) has/have not made satisfactory arrangements for the payment of all or any of the tax/taxes (which terms wherever they occur in these presents include penalty and interest) which are at present due by [NAME OF ASSESSEE(S)] and payable by him/her/them during the entire period of contract of service of (name of foreign employee) with the undersigned, ending on_____________ and during a further period of two years ending on__________ ; We, the undersigned (NAME OF UNDERSIGNED) do hereby unconditionally and irrevocably guarantee due payment on demand and without demur to the Central Government of all the taxes which are or may become due and payable by the assessee(s) under the Indian Income-tax Act, 1922, the Income-tax Act, 1961, the Excess Profits Tax Act, 1940, the Business Profits Tax Act, 1947, the Wealth-tax Act, 7957, The Expenditure Tax Act, 1957 and the Gift Tax Act, 1958 or any one or more of the said acts or other Tax or Taxes imposed under the Authority of the Government of India.
   
   
2. My/Our liability under this guarantee shall be co-extensive with that of the assessee(s).
   
   
3. I/We further agree that any amount certified by the Income-tax Officer/Assistant Commissioner of Income-tax/Deputy Commissioner of Income-tax having jurisdiction in the case of the assesseefs) as due and payable by the assessee(s) under all or any of the aforesaid enactments or other enactments) shall be accepted by me/us as conclusive evidence of the said amount being due and payable as aforesaid, and no such amount shall, in any case and under any circumstances be disputed.
   
   
4. This guarantee shall apply to and secure the ultimate amount of tax which may be due or become due from the assessee(s) to the Central Government under all or any of the aforesaid enactments and it shall not be determined by me/us except on the terms of my/our making full provision for the payment of all such taxes to the satisfaction of the Income-tax Officer/Assistant Commissioner of Income-tax/Deputy Commissioner of Income-tax having jurisdiction in the matter.
   
   
5. Further, I/We expressly agree that my/our liability to pay such taxes to the Central Government under the terms of this guarantee shall not in any way be affected or discharged by reason of any time and/or other indulgence (including the payment of tax by instalments being granted to the assessee(s) or by reason of any other arrangement or arrangements for the payment of taxes under all or any of the aforesaid enactments being entered into with the assessee(s) or his/ her heirs or representatives in exercise of all or any of the powers vested in the taxing authority under the said enactments and in particular, that I/We, the guarantor(s) shall not be released from any of our liabilities under this guarantee by reason of exercise of the above mentioned powers by the taxing authority or by any deviations of these presents, or by releasing to the assessee(s) any or all of his/ her/their properties or assets; and it is also agreed that vis-a-vis the Central Government, I/we, the guarantor(s) hereby waive any of my/ our rights as surety or otherwise which may at any time be inconsistent with any of the provisions of this guarantee.
   
   
6. Further, I/we hereby agree and declare that this guarantee shall not be determined or otherwise affected by any death, /** dissolution or liquidation, but shall remain in full force and virtue against me/us and my/our estate/assets until such amount of tax as is or may become due and payable hereunder is paid in full.
   
   
7. It is further declared and agreed that without prejudice to any other remedies open to the Central Government for recovering any tax which is or may become due and payable under this guarantee, the Central Government will be entitled to recover the said tax from me/us as the guarantor(s) on demand, in accordance with the rules contained in the Second Schedule to the Income-tax Act, 1961 or any modification thereof from time to time, and it shall not be necessary for the Central Government to initiate and/or exhaust any legal proceedings against the assessee(s) for the recovery of any tax as is aforementioned before suing me/us for the recovery of the same.
   
   
8. It is further agreed that this guarantee will cease to be operative on__________ (indicate the date as at *above) if, and only if I/we give notice before the date of expert NF the contract of service to the Income-tax Officer/Assistant Commissioner of Income-tax/Deputy Commissioner of Income-tax having jurisdiction in the case, regarding the revoking the terms .Hereof permitted by the Central Government.

(**Please strike out whichever is not applicable).

Yours faithfully,

Place :
Date :

Signed in the presence of:

And certified as correct.

Accepted for and on behalf of the President of India.