Fund transfer to canada by nri
This query is : Resolved
31 July 2012
Sir,
My brother has sold a residential land sum of Rs.15 Lacs and he is residing at Canada (NRI) since 13 years. Now, Rs.15 lacs Demand Draft is with him and he is having a NRE Account with ICICI. He want to transfer the Rs.15 lacs to his Canada Bank account.
The ICICI is asking him Form 15CA & 15CB to transfer the fund. He is also ready to pay the Capital Gain Tax @ 20% which is Rs.1 lacs.
I request the experts to your advice in this regards.
Venkat Rao T.
My brother has sold a residential land sum of Rs.15 Lacs and he is residing at Canada (NRI) since 13 years. Now, Rs.15 lacs Demand Draft is with him and he is having a NRE Account with ICICI. He want to transfer the Rs.15 lacs to his Canada Bank account.
The ICICI is asking him Form 15CA & 15CB to transfer the fund. He is also ready to pay the Capital Gain Tax @ 20% which is Rs.1 lacs.
I request the experts to your advice in this regards.
Venkat Rao T.
01 August 2012
Ya, he would require form 15cb/ca for transferring the fund, which is the procedure to remit money outside India via wire transfer.
Not an issue, just arrange for the 15cb/ca from a CA and Bank will remit fund without asking any further questions.
Not an issue, just arrange for the 15cb/ca from a CA and Bank will remit fund without asking any further questions.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- TDS on purchase of value vouchers for employees ?
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
