15CB where property sold in past years.

sir,
if the assessee sold a property in py 2018 19 & amount deposited in nro bank account. now in current year if the assessee wants to remit the money to abroad then in form 15CB transaction details of 18 19 that is long term capital gain ,TDS deduction details required to be mention ? or nature of remittance is to be mentioned as other ( not in the nature of income) since the transaction relates to py 18 19 & ITR for that year has already been filed ?.

2. Also in case the assessee wants to remit interest received on nro deposits to Nre account. Then tds deduction entry comes in every quarter on bank statement & 15CB accepts only one date of tds deduction then in such case multiple 15CBs required to be filed ?
Replies (2)
Quick Summary
This discussion clarifies the process for filing Form 15CB when remitting funds from a property sale that occurred in a previous financial year (2018-19). The advice is to declare the remittance as 'Other (not in the nature of income)' since the transaction and ITR have already been settled. For remitting interest on NRO deposits, multiple Form 15CB filings might be necessary due to quarterly TDS deductions, with each requiring a separate entry. Consulting a tax professional is highly recommended for compliance.

 1. _Nature of remittance_: In Form 15CB, select "Other (not in the nature of income)" as the nature of remittance. This is because the transaction relates to PY 2018-19, and the ITR for that year has already been filed.

 2. _Transaction details_: You are not required to mention the transaction details of LTCG in Form 15CB.

3. _TDS deduction details_: You are not required to mention TDS deduction details in Form 15CB. Remittance of Interest on NRO Deposits For the remittance of interest received on NRO deposits to an NRE account:

 1. _Multiple 15CBs_: Yes, in this case, multiple 15CBs may be required to be filed, as the bank statement shows TDS deduction entries for each quarter.

2. _TDS deduction date_: In Form 15CB, you can mention the date of the last TDS deduction entry for the quarter.

However, it's recommended to consult with a tax professional to ensure compliance with the regulations.

Additional Tips 1., _Consult a tax professional_: It's recommended to consult with a tax professional to ensure compliance with the regulations and to address any specific questions or concerns. 2. _Verify the regulations_: Verify the regulations and guidelines issued by the Reserve Bank of India (RBI) and the Central Board of Direct Taxes (CBDT) to ensure compliance.

In this case, the transaction pertains to a capital gain that was reported in the previous year (FY 2018-19) and the ITR has already been filed. Therefore, the nature of remittance should be mentioned as "Other" and not in the nature of income. There is no need to mention long-term capital gain or TDS deduction details again in Form 15CB, as it has already been accounted for in the prior assessment year.


Yes, in this case, multiple Form 15CBs may be required if there are multiple quarterly TDS deductions for interest on NRO deposits. Since Form 15CB accepts only one TDS deduction date, each quarterly TDS entry will need a separate Form 15CB.

To make the process easier, you can use our Excel-based utility to generate Form 15CA/15CB XML in bulk, which saves time and ensures correct entries for multiple deductions.

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