Why a bank can insist and under which rules ask to submit Form 15AC /15CB when I need to send funds from my NRO a/c to my own overseas a/c. It is clear that in above case section 195(6) of ITax read with rules 37BB is not applicable , as remitter and receiver is same individual, and there is no one else there. Even structure of these forms conveys that it is to be filled by remitter while transferring funds to another( person ) NRI.
How to deal with such case. Pls guide on this issue.
06 March 2022
From June 1, 2015, any person making a payment to a non-resident, including an NRI transferring funds from NRO to NRE account would be required to obtain a certificate from a Chartered Accountant in form 15CB and file form 15CA to the income tax department.
06 March 2022
Sir Will it any difference when funds i,e out of balance ( and not current income ) are transferred by NRI from NRO account to his own Overseas account and ( not NRE a/c ) and transfer amount remains below Rs 7 ( Seven ) Lacs.
CAclubindia
