Filing of Form 15CA (Rule 37BB), Income Tax

[Indra Kumar S]

Sub: Filing of Form 15CA (Rule 37BB under S. 195(6).

Query:  If a Non-resident Indian requires a transfer of funds from the accumulated balance in his NRO account in India to his own account in the country of his current domicile, does the requirement of filing Form 15CA, arise?  If yes, who has to file Form 15CA, the NRO account holder or the Bank transferring the funds in foreign currency?

Kindly assist me to understand the position.

Posts / Replies

[Dhirendra Srivastava]

Dear Mr. Indra

 

The basic purpose of Form 15CA is to ensure the proper compliance of withholding provisions.

In your case There are no TDS implication no form 15CA is required.

Other views are welcomed.

 

CA Rahul Srivastava