If you’re planning to sell a property in India and want to transfer the money abroad, you’ll need to provide certain documents to complete the process. In this article, we’ll go over the various documents required to expatriate your money from the sale of property in India.
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Firstly, you’ll need a PAN card, even if you’re a Person of Indian Origin (PIO) or were born and brought up in another country. If you’re a foreign citizen, you don’t need to link your Aadhaar card with your PAN card. Additionally, you’ll require a visa or an OCI (Overseas Citizen of India) card and a passport.
Apart from these, you need to submit Form 15CA and 15CB. The former is a declaration of the remittance, while the latter is a certificate issued by a Chartered Accountant, confirming that you have complied with all tax and related regulations.
In addition, you’ll need an application form from the foreign bank you’re using to transfer the funds. If your bank has branches in both India and your home country, the process will be much simpler. You’ll also need an A2 form, which is a form given by the Reserve Bank of India (RBI). This form requires you to declare the purpose for transferring the funds abroad.
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Finally, there may be a foreign bank form that you’ll need to fill out, depending on the bank you’re using in your home country. Once you have all these documents in order, the transfer process can be completed within a day or two.
In summary, the documents required to expatriate your money from the sale of property in India include a PAN card, visa or OCI card, passport, Form 15CA and 15CB, an application form from the foreign bank, an A2 form, and possibly a foreign bank form. It’s worth noting that different banks may require additional documents, so it’s important to check with your bank to ensure you have all the necessary paperwork.