Transfer of PPF maturity amount from NRO to NRE

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An NRI with both NRO and NRE accounts, who qualifies as RNOR, has matured their Public Provident Fund (PPF) and received the amount in their NRO account. They are seeking advice on transferring this sum to their NRE account, specifically regarding the necessity and applicable sections of Forms 15CA and 15CB, and any implications of their RNOR status. The advice received indicates that both forms are required for the transfer, despite the PPF amount being non-taxable, and that there are no specific implications due to their RNOR status.

Rajesh Patel

Rajesh Patel (Querist)

17 November 2022 Dear Sir
I am an NRI living outside India having NRO and NRE account. Although I am NRI, I qualify as RNOR as my income in India is more than 15 lakhs and I work in gulf country having no tax. Recently my Public Provident Fund ( ppf) account has matured and I have received 50 lakhs in my NRO account. I need to transfer this amount to my NRE account . My question is
1) Should I submit form 15 CA with part D as ppf amount is not taxable?
2) Is form 15 CB required? (bank is asking for it but 15CA section D does not require 15 CB)
3) Any implication of above due to my status of RNOR?
I would sincerely appreciate your kind advice... Best regards

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

17 November 2022 1 and 2 15CA and 15CB required it's a condition for transfer form NRO to NRE.
3 No implications.

Rajesh Patel

Rajesh Patel (Querist)

17 November 2022 Many Thanks Sir for your swift response. It's indeed helpful. Just a small clarification. Which section of form 15 CA will be applicable? C or D ? I am asking this as section D is for nontaxable income and C is for taxable income. And section D does not require 15 CB . Many thanks again

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

18 November 2022 Section D it's non taxable but 15CB applicable.

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