Hi
In my opinion, since it's only a transfer from a person's account to his another account, there are n taxes concerned and thus there's no requirement of Form 15CB.
Though the banks may ask for form 15CA.
Details to be filled in 15CB on sale of property by NRI
Hi Need guidance on filing form 15CB Facts of the Case 1. NRI sold property for 56 lakhs 2. Buyer Deducted TDS u/s 195 @22.88% on whole consideration (Rs. 12,81,280) on 30/10/2019 3. Balance amount about Rs. 35 lakhs (after spending for tickets and all ) is there in NRO account 4. Buyer gave Form 16A 5. Seller wants to repatriate Rs. 15 lakhs to NRE account ( NOT FULL MONEY RECEIVED) MY question is wrt to issues in filing form 15CB as bank is insisting which am trying to do first time POINT AS IN FORM 15 CB which am reproducing ON which am confused on how to frame 7. In case the remittance is net of taxes, whether tax payable has been grossed up ? 8. Taxability under the provisions of the Income-tax Act ( without considering DTAA) i. is remittance chargeable to tax in India ii. if not reason thereof iii. if Yes, a) the relevant section of the Act under which the remittance is covered b) the amount of income chargeable to tax c) the tax liability d) basis of determining taxable income and tax liability 9 left as no relief under DTAA 10. Amount of TDS In foreign currency in Indian rs 11. Rate of TDS 12. Actual amount of remittance after TDS ( in foreign currency) 13. Date of deduction of tax at source, if any Also for amount in foreign currency which rate is to be used ? Regards Vijayaram
Asked 5 years ago in Capital Gains Tax
15CB would be required by bank for transfer from NRO to NRE account.
You need to mention NRO to NRE transfer.
No need to mention about any taxability since this has no link with sale of land or anything.
You need to mention amount in Rs.
If you need assistance in making 15CB I can assist you.
Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.
Thank you
Hello,
15CA & CB would be required.
Not required to mention the taxability part of Form 15CB. The amount would be mentioned in Rs.
Advisable to consult a practicing CA directly since Form 15CB requires certification from a practicing CA.
I hope that this answer satisfies your requirements. For further understanding, you can contact us directly at or take a phone consultation.
Regards,
CA Hunny Badlani
Dear Sir,
Hope you are doing well !!
1. There is no need to mention about any taxability.
2. You just need to mention NRO to NRE transfer.
3.Actual amount of remittance after TDS ( in Indian currency).
4.15CA & 15CB would be required.
It is advisable to take a phone consultation for detailed discussion.
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