Form 15CB & CA Certificate Explained – Sending Property Sale Proceeds Abroad

For most NRIs, selling property in India is only half the journey. The real challenge begins when you want to transfer the sale proceeds abroad. Indian banks will not allow large outward remittances without the proper paperwork — and that’s where Form 15CB and CA certificates come into play.

If you’re an NRI selling property in Hyderabad (or anywhere in India), understanding these forms is essential for a smooth, compliant transfer of funds abroad.

What is Form 15CB?

• Form 15CB is a certificate issued by a Chartered Accountant (CA).

• It confirms that all taxes have been correctly paid (such as TDS and capital gains tax) before sending money outside India.

• It applies when remittances exceed ₹5 lakh in a financial year.

In short: Without Form 15CB, banks won’t process your overseas fund transfer.

What is Form 15CA?

• Form 15CA is an online declaration that an NRI (or their representative) must file with the Income Tax Department.

• It details the purpose of the remittance (e.g., property sale, rent, investment income).

• It is submitted along with Form 15CB to the bank.

👉 Think of it as a digital self-declaration backed by the CA’s certificate.

Why Are These Forms Required?

The Indian government introduced this process to:

• Track large foreign remittances.

• Ensure tax evasion is prevented.

• Confirm that capital gains tax has been paid before NRIs transfer funds abroad.

Step-by-Step Process for NRIs Selling Property in Hyderabad

1. Sell the Property Legally

   • Execute the sale deed.

   • Ensure buyer deducts TDS at 20% (long-term) or 30% (short-term).

2. Deposit Proceeds in NRO Account

   • All property sale income must go to an NRO account, not NRE.

3. Hire a Chartered Accountant (CA)

   • CA prepares Form 15CB after verifying:

     • TDS deducted

     • Tax paid receipts

     • Capital gains calculation

4. File Form 15CA Online

   • Done via Income Tax portal.

5. Submit Documents to Bank

   • Sale deed copy

   • CA certificate (15CB)

   • Form 15CA acknowledgment

   • Undertaking letter

   • NRO account details

6. Funds Transferred Abroad

   • Bank remits funds to your overseas account under FEMA’s $1 million annual repatriation rule.

Case Study – NRI in the US, a client of Kaptain Group

Ms. Priya, a Green Card holder, sold her flat in Kondapur, Hyderabad for ₹1.5 crore. With Kaptain Group’s help:

• Buyer deducted correct TDS.

• CA prepared capital gains calculation.

• Form 15CB issued, Form 15CA filed.

• Bank transferred funds to her US account within 10 working days.

FAQs – Form 15CB & CA Certificate

1. Who can issue Form 15CB?Only a Chartered Accountant registered in India.

2. Do I need Form 15CB for small transfers?No, if the total remittance is below ₹5 lakh in a financial year.

3. Can I repatriate funds without paying taxes?No, banks require proof of tax clearance (Form 15CB).

4. Is there a limit on how much I can repatriate?Yes, up to USD 1 million per financial year per NRI.

Why Choose Kaptain Group?

• ✅ End-to-end documentation & CA coordination.

• ✅ Expertise in Hyderabad property transactions.

• ✅ Smooth compliance with FEMA, RBI, and IT rules.

• ✅ Hassle-free fund transfers abroad.

Final Thoughts

Forms like 15CA and 15CB may sound bureaucratic, but they are your ticket to repatriating property sale proceeds abroad legally. For NRIs, working with the right team makes this process simple and stress-free.

At Kaptain Group, we ensure your Hyderabad property sale and fund transfer is fast, compliant, and worry-free.

👉 Contact us today to sell property and repatriate funds abroad safely.