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
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15CA on money transfer
Replies (8)
As per Rule 37BB - terms and conditions / situations for 15CA form
Yes.he needs to file 15CA as well as 15CB
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...
please correct me if I am wrong...
BUT THE BANK OFFICIALS ARE ASKING FOR FORM 15CA.
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...
Is there a A B C and D forms check with your bank which form they need...
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.
it will be more helpful, if you provide that notification, or notification number.
Regards
RBI/2013-14/4 July 1, 2013 Master Circular No.4 /2013-14
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