Dear All,
If Mr. A, an NRI having sale proceeds of property in India in his NRO account, wants to transfer the money from NRO to NRE account. TDS is deducted at lower rate as certificate u/s 197 is obtained. Amount to be transferred is more than Rs. 5 lakhs. Amount of capital gains is deposited in specified bonds. For transfer of money in this case from NRO to NRE account-
1. Does he have to file both Form 15CA and Form 15CB?
2. If Form 15CB is to be filed, then should he put the same details in Remitter's and Remittee's name and address?
1 only 15CA is required. no need of 15CB as remittance is not chargeable to tax. as it is taxed at first stage.
2 if bank requires 15CB then yess along with RBI reference code
CAclubindia
