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Form FNC, Annual Activity Certificate, surplus remittance on completion, compounding and closure for the project office of your foreign company.
150+ Regular Clients · Chartered Accountants and Company Secretaries · Since 2016
A project office in India operates under FEMA and the terms of its Form FNC approval. It must carry out only the project activity, receive funds through banks, file an Annual Activity Certificate from a Chartered Accountant with its AD bank each year, and remit surplus only with the right certificates and an undertaking that completion is not affected. AU Corporate, a New Delhi firm of Chartered Accountants and Company Secretaries, prepares and files all of this.
Written and reviewed by Abhishek Jaiin, Chartered Accountant (ICAI Membership No. 544646) · Last reviewed: 9 October 2026
A missed certificate or an improper remittance can lead to compounding and delay the final remittance when the project ends. See the Project Office Registration guide for the eligibility and approval framework this ongoing compliance sits on top of.
AU Corporate keeps a live record of your approval, contract changes and remittances, and prepares every certificate before it is due.
The FEMA and RBI work a project office needs, in the order it arises.
Route check, Form FNC and documents for the AD bank or RBI.
Account-opening support and records of every remittance.
Accounts and a Chartered Accountant's certificate to the AD bank.
Updates to the AD bank on extension, value or scope.
Forms 15CA and 15CB and tax analysis.
Review of past filings and compounding applications.
Certificates, tax clearance and remittance of surplus on completion.
Five items to begin. For an existing project office, we start with a review of what has been filed.
The AD bank or RBI approval and Form FNC.
The contract and any amendments.
Inward remittance certificates for each remittance.
The project office's accounts for the year.
Constitutional documents and latest accounts of the foreign company.
What is due, and when. Dates can change by notification, so we confirm those that apply to your project office.
| When | What | How AU Helps |
|---|---|---|
| Before setting up | Form FNC and approval | Prepared and filed |
| Each remittance | Inward remittance records; surplus paperwork | Prepared |
| By 30 September | Annual Activity Certificate | Prepared and filed |
| On contract change | Intimation to AD bank | Prepared |
| At completion | Closure and surplus remittance | Prepared and filed |
Reasonable fees, confirmed in writing before we start.
Not included: compounding fees payable to the RBI, bank charges, and tax and ROC filings, which are separate services from the same team — see Project Office Tax, GST and Transfer Pricing and ROC Compliance for a Project Office.
Your project office accounts, tax returns, RBI filings and ROC forms must agree with each other. The same team handles each of them.
Straight answers to the questions foreign finance teams ask most about a project office in India.
Written and reviewed by Abhishek Jaiin, Chartered Accountant (ICAI Membership No. 544646) · Last reviewed: 9 October 2026
This is general guidance based on Indian law and practice as at the date above. It is not advice for your specific case, and rules can change.
Tell us about your project office's approval date and remittance history, and our team will confirm the Annual Activity Certificate and filing calendar for your situation.