Hello, I stay as a tenant and my landlord is a Non-Resident Indian. Every month since the start of the current fiscal year, I have been transferring the rent from my savings account to his NRO account. The yearly rental amount will not exceed INR 5 lakhs. Kindly advise if I need to submit Form 15 CA in this case. If yes, then what should be the RBI code and the sub-code.
Thank you.
Thank you for responding to one part of my query. Kindly let me know what should be the RBI purpose code that I need to select when filling Part A of Form 15CA for transfer of rent to NRO account. Your response will be very helpful for me. Thank you.
There is no need because the payment is being made in rupees to a rupee account in India.
Otherwise your Bank would have already asked you to give them the 15CACB before processing any payments.
Just make sure you deposit the TDS / file the returns.
Chirag N Shah & Associates
Mumbai
CA Inter
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