Gifting to nri
This query is : Resolved
Udgam Koomar
(Querist)
29 September 2018
I want to gift say 5L cash to my own brother and he is an NRI so he can deposit in NRO ac. Gift deed is made. Now he wants to transferfrom NRO to NRE ac after converting it. Does such transaction need form 15CA? As this is not an income and its not taxable.Please guide
Amol S Joglekar
(Expert)
30 September 2018
No. It does not require 15CA
Udgam Koomar
(Querist)
01 October 2018
But bank is asking part D of 15CA
Amol S Joglekar
(Expert)
02 October 2018
If it is so, give it.Now a days, Banks have become over cautious.
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Udgam Koomar
(Querist)
02 October 2018
Amol, you have any idea how much should I pay to get a 15AC part D filled by a CA, I am in Delhi
Amol S Joglekar
(Expert)
02 October 2018
professional fee has always been a tricky issue. I think INR 3000/- should be fine.
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