Taxability fro transfer of amount from nro to nre account
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 December 2013
Non Resident transfer amount from his NRO account to NRE account. What will be tax implication?
19 December 2013
There is no tax on transfer as its not a Income. The NRI shold have paid tax on the amount being transferred.
.
.
Message likes :
1 times
19 December 2013
depends on the transaction. The banks ask for CA certificate to ensure that due taxes have been paid. For eg if you are holding a FD for which proceeds have been credited to the NRO account. Such transfer should normally wont attract tax as bank must have already withheld taxes at the time of crediting interest.
However if the proceeds are from sale of capital assets, there are chances taxes may not have been deducted.
However if the proceeds are from sale of capital assets, there are chances taxes may not have been deducted.
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....................................................
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Sales return eway bill
- TAN for Partnership
- LTCG for Assmt year 26-27
- E way bill for tractors
- Suggestions required for income tax filing-software (FY 2025-26)
- Loan by Partnership Firm
- Plot of land. Cost of Acquisition
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- 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
