Client is a NRI. He had transferred remittances from abroad a few years back whiich was erroneously credited to his NRO account that time. Such funds were lying in NRO term deposit now in the name of the Cilent. TDS is being duducted by bank and paid to the government on such NRO Account interest.
Now client would like to transfer such NRO deposit proceeds to his NRE account. Please advide the procedures to be followed for such transfer. Since the source of such funds are originally out of foregin inward remittance Is it required to file Form 15CB?
CAclubindia
