TRANSFERRING MONEY TO ABROAD (URGENT)

This query is : Resolved

Pavel (Querist)
Follow

23 January 2017 Dear Experts, I have a query which requires your solutions. A PERSON STAYING ABROAD USED TO HAVE A FLAT IN INDIA. SINCE THE RESIDENCE (I. E THE FLAT), IS NOT BEING USED., HE DECIDES TO SELL THE FLAT. HENCE HE SOLD THE FLAT AND ACCORDINGLY TDS WERE DEDUCTED. NOW HE WANTS TO TRANSFER THE MONEY ABROAD WHERE HE LIVES PERMANENTLY. HE DOES NOT HAVE ANY BANK ACCOUT IN INDIA. SUGGEST HOW TO PROCEED WITH THE THE MATTER AND WHAT ARE THE COMPLIANCES.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

24 January 2017 15CA and 15CB has to be filed and bankers will allow the remittance after filing. Contact the near by CA he will help you in filing the forms.

Message likes : 1 times

Pavel

Pavel (Querist)
Follow

24 January 2017 Thanks sir. Just to confirm whether an NRO A/C is required to be opened with the bank? Whether Capital Gain tax is required to be filed? What js the TDS reqd. To be deducted? Please provide me with the entire procedure

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

24 January 2017 1 NRO ac is to be opened.
2 Full capital gain tax has to be deducted at source.

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