ForeignRemittance
This query is : Resolved
09 May 2022
NRI - Husband and wife sold Flat and sum has been credited in Indian Bank account.
NRI status was not declared at the time of sale transaction and buyer has deducted 1% TDS from sale consideration
Now NRI wants to transfer funds to his account in Foreign Country
My question is
Whether Form 15CA and 15CB is required to transfer funds ? If yes whether Remitter and Remitee will be same since it is transfer of funds
Also can wife transfer her funds in bank account of her husband and husband can transfer full proceeds to his account in Foreign Country ?
NRI status was not declared at the time of sale transaction and buyer has deducted 1% TDS from sale consideration
Now NRI wants to transfer funds to his account in Foreign Country
My question is
Whether Form 15CA and 15CB is required to transfer funds ? If yes whether Remitter and Remitee will be same since it is transfer of funds
Also can wife transfer her funds in bank account of her husband and husband can transfer full proceeds to his account in Foreign Country ?
09 May 2022
15CA and 15CB required, yes, still it's required in such a case.
Yes, such transfer allowed.
First apply to international taxation division at Delhi and pay applicable capital gains tax and then transfer funds.
Yes, such transfer allowed.
First apply to international taxation division at Delhi and pay applicable capital gains tax and then transfer funds.
09 May 2022
After deducting indexed cost of acquisition from sale proceeds there are no capital gains and there is long term capital gains loss. Then also i should apply to international taxation division at Delhi ??
Also can wife transfer her funds in bank account of her husband and husband can transfer full proceeds to his account in Foreign Country ?
Also can wife transfer her funds in bank account of her husband and husband can transfer full proceeds to his account in Foreign Country ?
09 May 2022
Yes, in view of TDS not deducted.
Such transfer of funds no problem in foreign countries.
Such transfer of funds no problem in foreign countries.
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
Unanswered Queries
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Multiple trade mark
- Copyright software
- Value of property in capital gain
- Regarding TDS Applicability For Director Remuneration
- FORM 26A APPLICABILITY
- When TDS on GST applied
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
