Dear All
My client is an NRi and he sold his land in India and now he wants to transfer funds abroad to his own account in the form of DD. Please reply to the following questions:
1. Whether the remitter and receiver can be same while issuing certificate in form 15CB? I mean, whether form 15CA and 15CB are really required in this case.
2. I suppose no TDS is applicable as he is remitting the money in his own account in case certificate is issued in form 15CB. Please correct me if I'm wrong.
3. What I feel is that the responsibilty of deducting TDS was that of buyer while purchasing land from a non resident and now when the transaction has been carried out, the NRI can take the funds with him abroad. Please correct if I'm wrong.
CAclubindia
