Remmitance in Foreign Currency
This query is : Open
28 October 2009
My client holding NRI Status(UK citizen). He has having a PAN. He sale one plot situated in india to Indian Resident. Sale proceed received in Indian Rupees and deposited in NRO Account. He wants to repatriate the sale proceeds to UK.
My question is :
Whether fund tr to NRO A/c to NRE A/c is permissible?
Whether 15CA form to be filled up.
If yes, then the information of remitter and beneficier of remitter are the same person?
Whether he required to deposit the tax in his PAN right now and assessed to Income tax Dept.? Then the question of 15CA form filling is arise or not?
Whether he can invest the some proceeds in Mutual Funds or indian equities ?
My question is :
Whether fund tr to NRO A/c to NRE A/c is permissible?
Whether 15CA form to be filled up.
If yes, then the information of remitter and beneficier of remitter are the same person?
Whether he required to deposit the tax in his PAN right now and assessed to Income tax Dept.? Then the question of 15CA form filling is arise or not?
Whether he can invest the some proceeds in Mutual Funds or indian equities ?
CA. Bikash Bogi
(Expert)
30 October 2009
Yes it is permissible subject to certian conditions..
15CA to be filled up
Remitter & beneficiary are the asme person
15CA to be filled up
Remitter & beneficiary are the asme person
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