NRI and Repatriation
This query is : Resolved
Quick Summary
19 January 2023
Sir,
Being a NRI , on its maturity I recently closed my PPF a/c and total outstanding balance amount was credited to my NRO a/c by the bank .as maturity amount is not taxable in India. It was tax free.
Now I want to repatriate whole corpus of that PPF amount thus credited from my NRO a/c to my overseas a/c in US..
Query is as under.
1. Can I repatriate this total corpus of PPF amount to my overseas a/c
2. Is there any taxation on its repatriation from NRO a/c.
3. Can I repatriate under head D of Form 15CA as Not Taxable Amount.
Pls guide on above points
Being a NRI , on its maturity I recently closed my PPF a/c and total outstanding balance amount was credited to my NRO a/c by the bank .as maturity amount is not taxable in India. It was tax free.
Now I want to repatriate whole corpus of that PPF amount thus credited from my NRO a/c to my overseas a/c in US..
Query is as under.
1. Can I repatriate this total corpus of PPF amount to my overseas a/c
2. Is there any taxation on its repatriation from NRO a/c.
3. Can I repatriate under head D of Form 15CA as Not Taxable Amount.
Pls guide on above points
CA R SEETHARAMAN
(Expert)
20 January 2023
1 yes.
2 No.
3 yes but 15CB required from a CA that it's an exempt income
2 No.
3 yes but 15CB required from a CA that it's an exempt income
CA R SEETHARAMAN
(Expert)
20 January 2023
1 yes.
2 No.
3 yes but 15CB required from a CA that it's an exempt income
2 No.
3 yes but 15CB required from a CA that it's an exempt income
20 January 2023
Thank you very much Sir for your clear authentic precisely guiding replies, You are excellent professional.
CA R SEETHARAMAN
(Expert)
20 January 2023
You are welcome......
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