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rmalhotra (Querist)
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28 December 2023 Sir/
Outward foreign remittance/purchase of foreign currency from NRO a/c by any NRI and sending to his "own" bank a/c abroad and
out of source which is in the nature of "exempted amount " ( not chargeable under ITax Act in India ). Hence following queries :-

- Is it required to be reported anywhere while filing ITR 2.
- Does it make any difference for compliance or reporting when source of remitted amount is an " exempted receipt " in hands of NRI in India , but amount is more than 10 Lakhs
- Does it need any specific compliance or any tax implication when authorized dealer categorize the transaction under ' Purpose Group -Capital Account- Repatriation of Non-Resident Deposits. as amount is sent by authorized dealer from NRO a/c only.

Pls guide.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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29 December 2023 Not required to be reported in filing ITR.
For the purpose of remittance CA has to certify in 15CB applicable tax has been paid.

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rmalhotra

rmalhotra (Querist)
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29 December 2023 Thank you Sir. Hope you did will in year 2023 and maintain good health. and find this opportunity to wish you coming up Happy New Year 2024 .

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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29 December 2023 You are welcome.
Thank you.

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