15CA on money transfer

269 views 8 replies

NISHANT SHAH

Tax Practioner

240 Points Joined March 2011

A person (Status NRI) has sold a property in India. Now he wants to transfer the amount received from selling of property to the foreign country where he is currently residing. Does he need to file 15CA Form ? If Yes than under which section? Please guide

Replies (8)

Kapadia Pravin

17264 Points Joined December 2018

As per Rule 37BB - terms and conditions / situations for 15CA form

rahul karke

93 Points Joined May 2017

Yes.he needs to file 15CA as well as 15CB

T K Vijith

143 Points Joined July 2019

I don't think so he no need to file form 15 CA, When we are making a payment to our NRI vendors only we have to submit form 15CB and CA.... In this case he is transferring his own money from India to foreign... So form 15 CB and CA is not required...

please correct me if I am wrong...

NISHANT SHAH

Tax Practioner

240 Points Joined March 2011

BUT THE BANK OFFICIALS ARE ASKING FOR FORM 15CA.

T K Vijith

143 Points Joined July 2019

You can create yourself ... Login to your income tax website under efile click income tax form there you can select the form 15Ca .....

Is there a A B C and D forms check with your bank which form they need...

Suresh Thiyagarajan

Student

3986 Points Joined July 2018

1. In your case, it will be considered Repatriation of sale proceeds of Immovable property in India by NRI.
2. RBI has issued a notification in this effect dated July 1, 2013. Detailed conditions and procedures are given for repatriation of sale proceeds of the Immovable Property in India.
3. It will not be a mere remittance of money to foreign account but rather it will be covered under the above notification.
Please go through the notification before making the remittance.