Repatriation of money by nri
This query is : Resolved
P.Madhivadhanan
(Querist)
17 July 2021
A NRI assessee who sold urban land & Building during the year ended 31/3/2020 and LTCL arises during the year. He still keeps sale consideration in NRO a/c. Now he wants to repatriate the money to foreign for his personal use. What procedure to be followed under INCOME TAX ACT & FEMA ACT?
CA R SEETHARAMAN
(Expert)
17 July 2021
Pay applicable capital gains tax. File 15CA and ask a CA to file 15CB. Furnish 15CA and 15CB to your bankers for remittance.
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