Cross-Border Executive Asset Repatriation
Secured Form 15CB certifications and FEMA clearance for a cross-border tech executive repatriating ancestral property sale gains.
A US-based NRI tech executive inherited land assets in Chennai, sold the property, and needed to repatriate the proceeds back to the US. The bank required certified tax clearance under FEMA and Form 15CA/15CB filings to avoid double taxation.
Analyzed Double Tax Avoidance Agreement (DTAA) parameters, prepared tax computations under Section 54/54EC reinvestments, compiled transaction audit trails, and issued partner-signed Form 15CB certificates.
- Drafted tax computation matching Double Tax Avoidance treaty exclusions.
- Compiled audit-ready source declarations for bank portal clearance.
- Processed Form 15CA filings on the Income Tax website.
Repatriated the proceeds under the RBI Liberalised Remittance Scheme (LRS) USD 1 Million cap without any delay or compliance penalty, ensuring full FEMA alignment.
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To comply with ICAI guidelines and preserve client corporate confidentiality, names are omitted. Factual details, metrics, and outcomes are fully verified.