Default a/c to receive money in hindi

  1. india
  2. Form 15CA and 15CB for Remittance of Money to NRIs


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I'm to receive some money in USD from a company directly to my account. I'm a resident of India and the branch where I have my account doesn't have a SWIFT code. The company will not give the money by cash/cheque. Is there any way I can receive such international transfers in my account if the bank branch itself is not SWIFT enabled? My account is with Indian Bank, if that's relevant. And it's a savings account. Note that in many countries, you cannot transfer directly to/from a savings account from/to external sources (only from/to your other accounts), so you may need to have a regular "checking" or "current" account to be able to receive the funds. Check with your bank for details. Also note that in some instances, there may be large fees for receiving foreign payments, receiving payments in foreign currencies, and currency exchange. My account is with Indian Bank, if that's relevant. Indian Bank already has SWIFT BIC. Is there any way I can receive such international transfers in my account if the bank branch itself is not SWIFT enabled? The Branch need not be SWIFT enabled. However the Bank needs to be SWIFT enabled. Indian Bank is SWIFT enabled and has several Correspondent Banks in US. See this link on Select USD as filter in bottom page. It will list quite a few Banks that are correspondent to the Indian Bank. Click on the Link and it will give you more details. For example with

Form 15CA and 15CB for Remittance of Money to NRIs

Many Non-Resident Indians have money in India that they want to send abroad to their overseas bank accounts. During outward Remittance or Repatriation, banks are required to ensure whether the tax was paid or not. There are certain types of foreign remittance where submission of Form 15CA or 15CB is required under the Indian Income Tax Act. Here is the guidelines on Form 15CA and 15CB for remittance of money to non-residents. Call with NRI Tax Expert Outward Remittance: How can NRIs send money abroad from India? Repatriation and Outward Remittance The process of sending money from India to the overseas bank accounts of the NRI is called Now, we know that NRIs can’t hold Resident India Savings Bank Accounts. They will have the following bank accounts in India: • • Non-Resident Ordinary (NRO) • Can I Transfer Money from NRO Acount to Foreign Bank Account Yes, it is possible to transfer money from an NRO (Non-Residential Ordinary) account to a foreign bank account. However, there are certain regulations and guidelines that need to be followed. As an NRO account is primarily meant for holding and managing income earned in India, there are restrictions on the repatriation of funds from an NRO account. Forms 15CA and 15CB for Outward Remittance from India Outward remittance has tax implications. At the time of any payment or remittance of money to a non-resident, the bank needs to ensure whether the applicable tax was paid or not. If not, the bank will check if it is certified b...