Buying commercial Property from NRI

TDS 253 views 4 replies

Dear ,

I am buying a property from an NRI which is around 20 lacs. 

we are deducting/paying the TDS at 20.8% and transferring the remaining amount to Sellers NRO account.

My question is here who will generate the FORM 15CA and FORM 15CB ?

Thank you,

 

 

 

 

 

Replies (4)

When you are transferring the amount to his NRO account, you don't need to submit form 15CA/CB.

Only if the NRI transfers the amount to his NRE/foreign bank account, he will have to submit the form.

Thank you Sir. If that being the case. Then Seller has to raise the Form15CA and CA has to confirm with Form15CB ??

 

Thank you.

 

Correct....

You are welcome.

In this case, you (the buyer/remitter) are responsible for generating and filing Form 15CA, and obtaining Form 15CB from a Chartered Accountant before making the remittance (if required under Rule 37BB). Even if the funds are being transferred to the seller’s NRO account within India, the TDS and declaration obligations under section 195 still apply because the seller is a non-resident.

You’ll need a CA Certificate (Form 15CB) certifying the nature of payment, TDS deducted, and applicable taxability. Based on this, you can file Form 15CA – Part C on the Income Tax portal before making the remittance.

For quick and portal-compliant filing, you can use our Excel-based utility for bulk XML generation of Form 15CA/CB.

Download here: https://xltool.in/15ca-15cb/ | www.xltool.in


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