Remittance of money from India to Sweden

Outward remittance from India to Sweden or any other country are subject to tax clearance in the form of 15CA/CB . If the income which has been earned in India , the tax should be paid in India and after that it can be remitted outside whether NRE account or any other account in sweden . For this purpose 15CA/CB is required .

So please clarify that the amount which you want to remit outside India has been tax paid or not .

Apart from the above taxation provision , the amount has to be transferred as per FEMA guidelines . You can contact us 09818295840 for more detail process .

Dear Abijeet,

With respect to your quarries please find below answers :

1) If you are earning any income in india than same shall be subject to tax in india but if you are remitting fund out of excess or carry forward balance there will be no tax implication on the said transaction.

2) Yes this remittance shall be carried out by the bankers only and you will need to file the form for the same for allowing them to transfer money to your foreign account.

3) Also you need to be sure of the bank charges levied by the bank and intermediary bank as in case of small amount of remittance such charges will eat away 10% - 15% of your remittance amount.

If you face any problem with banking clearance than kindly let me know will be please to help you out in all the best manner possible.

Dear Sir,

Please find following points:

1. Limit of transfer from NRO account to NRE would be as per FEMA guidelines.

2. Form 15CA CB would be required.

You need to ensure that proper tax have been paid in India and also you have filed your I.T Return timely.

For any other Query/ Clarification, feel free to contact:

ca.skagarwal@gmail.com

1. If you are earning income in India and paying taxes then there will not be any problem for transfer from your account outside India.

2. There is no need to inform the Banker. He will ask you to give Form 15CB and 15CA from chartered Accountnat for transfer.

3. There is no risk involved. Before Issuing 15CA And 15CB the Auditor will take care of the points involved in that.

Dear Abhijeet,

1. If you have already paid taxes on the money which you are remitting then you can transfer the money from your account outside India subject to limits specified in FEMA.

2. You have to obtain Form 15CB and 15CA from chartered Accountant and give it to your bank for transfer.

Please let me know if you need any assistance on the above.

Thanks and Regards,

CA Abhishek Dugar

Hello Abhijeet,

It appears to me that your company has posted to you in Sweden but your salary is credited in India in INR.

In that case you can very well transfer your funds to Sweden by informing your bank as they may ask you to fill a Form in order to transfer the funds.

As per Indian Laws, transfer of funds is not liable to tax but I would still advice you to take an expert opinion in Sweden about what does the Swedish Laws state about the same.

Trust this clarifies your query.

Feel free to get back/ call back for any further clarifications.

Thanking You.

Regards,

Rohit R Sharma

BCOM, ACA, LLB - GEN, CERT. FAFP