Applicability of form 15 ca for payment to non resident
This query is : Open
27 February 2014
Our client is an Indian by birth, he is working in HCL at United States and he has got citizenship in USA. Now he purchased shares under ESOP from HCL on repatriable basis pursuant to the approval of RBI. For the shares allotted in USA, Taxes withheld @ 33%. Now the person sold the shares in BSE and the amounts has been given credit to NRO account. He wants to transfer this money to USA account. The Bankers insist to give Form 15CA to transfer the money from NRO account to USA account. Whether Form 15CA is applicable in this case and whether any TDS or Capital gain tax is to be paid. Kindly clarify and in what basis Form 15CA will be issued
27 February 2014
banks are demanding 15ca for compliance purpose with RBI, in your case 15ca is not applicable but we have to issue this for all transaction of nro to nre accounts. we can't do anything other than issue of 15ca
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- TAN for Partnership
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Suggestions required for income tax filing-software (FY 2025-26)
- STCG FOR GOLD ETFs
- E way bill for tractors
- LTCG for Assmt year 26-27
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
