Whether Form No.15CA & Form No.15CB required to be given to a Bank where the Bank credits rent of NRI to his NRO account with the same Bank ?
Thanks in advance.
CA. K George Philip (Partner) (226 Points)
12 June 2017Whether Form No.15CA & Form No.15CB required to be given to a Bank where the Bank credits rent of NRI to his NRO account with the same Bank ?
Thanks in advance.
JERRY JOHN
(62 Points)
Replied 12 June 2017
Since Rent receipt is a permissible credit (legitimate), credit of such income in NRO account does not require CA certificate. However, repatriation of funds from NRO account under $ 1million route requires CA certificate.