NISHANT SHAH (Tax Practioner) (235 Points)
19 September 2019A 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
Kapadia Pravin
(17249 Points)
Replied 19 September 2019
T K Vijith
(143 Points)
Replied 19 September 2019
NISHANT SHAH
(Tax Practioner)
(235 Points)
Replied 20 September 2019
BUT THE BANK OFFICIALS ARE ASKING FOR FORM 15CA.
T K Vijith
(143 Points)
Replied 20 September 2019
Suresh Thiyagarajan
(Student)
(3986 Points)
Replied 20 September 2019
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.
NISHANT SHAH
(Tax Practioner)
(235 Points)
Replied 20 September 2019
it will be more helpful, if you provide that notification, or notification number.
Regards
Suresh Thiyagarajan
(Student)
(3986 Points)
Replied 20 September 2019
RBI/2013-14/4 July 1, 2013 Master Circular No.4 /2013-14
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