An NRI wants to sell his property in India and transfer funds outside India. Apart from filing 15CA and 15CB with bank, is there any other formalities that he needs to complete.
2 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195209 Points)
Replied 05 August 2024
Tax liability over the transaction to be cleared & relevant ITR to be filed.
Roodita Gaikwad
(Practice)
(4654 Points)
Replied 22 April 2025
Yes, apart from filing Form 15CA & 15CB, the NRI must also ensure the following:
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TDS under Section 195 is properly deducted by the buyer and deposited.
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Income Tax Return (ITR) reflecting the capital gains from the property sale is ideally filed, especially if exemption is claimed.
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CA computation of capital gains and certification of taxability is required for Form 15CB.
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Bank may also ask for:
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Sale deed
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PAN card
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TDS challan
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Tax computation sheet
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Form 10CB (optional in some cases)
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Once all documents are in order, the bank will process the outward remittance.
For efficient and portal-compliant XML filing of Form 15CA/15CB, you can use our Excel-based utility.
Download here: https://xltool.in/15ca-15cb/ | www.xltool.in
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