Revised rules effective from 1st April 2016 make it clear that there is no requirement of submission of Form 15CA and 15 CB when nature/purpose of remittance is not taxable and is one of the 33 provided under exception List. Transfer/Remittance of funds from NRO Account to NRE Account in the same Bank are covered under Nature of Payment/Purpose code S-1301. Such transfer/remittance is not taxable as such submission of Form 15CA and or Form 15 CB are not required. Perusal and review of information required under these forms 15CAand 15CB indicate that these forms are not required for transfer of own funds from NRO account to NRE account by NRI. Form 15CA and 15CB have nothing to do with examination and or certification of sources of funds and taxes on sources of funds. These are covered under different rules of TDS on recipient’s income.
In spite of this Banks ask for 15CA /15CB in all cases. In my view and views of many CAs and Tax experts, sole reason for insisting for unnecessary and irrelevant 15CA and 15CB forms is to avoid any possible audit risk.
My view may not be correct also but careful reading of provision of RBI notification, Income tax rules CBDT Notification , information required under form 15CA and Form 15CB and Application prescribed by some of the banks for such transfer , discussions with professional CAs make it necessary to clarify whether transfer of funds from NRO to NRE Account for the purpose covered under specified list of 33 submission of Form 15CA and Form 15CB is really required as these are covered under exceptions.