Form 15CA-15CB Requirement
This query is : Resolved
12 March 2024
A person is transferring certain sum of money from his Indian Saving account to his bank account in Foreign Bank. Does mere transferring money to self attract filing of Form 15CA/15CB ? Please guide.
12 March 2024
ideally there should not be any requirement of this payment is covered in the 33 items listed here https://cleartax.in/s/form-15ca-15cb-under-rule-37bb
12 March 2024
They haven’t clearly mentioned in Rule 37BB sir. But if remittance for family maintenance & savings is exempted as per point no. 26 of Rule 37BB, this is merely own money, is what i feel.
12 March 2024
yes. it should be. The bank may ask for confirmation that the money being transferred is post-tax money. depends on the bank.
12 March 2024
Ok thank you very much
13 March 2024
Form 15CA and 15CB are required in such a case to ensure tax paid money is transferred.
15CA and 15CB required in case of transfer from NRO account to NRE account.
15CA and 15CB required in case of transfer from NRO account to NRE account.
13 March 2024
Seetharaman ji. but in this case, the client has a savings account. Not sure if already classified as NRO. As stated above, banks may insist on confirmation of money be post-tax, which would involved 15CA-CB.
13 March 2024
Nikhil Kaushik ji Okay agreed with you.
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