Dear Sir,
I am residing in UAE since August, 1978. I am holding a portfolio of some 40 companies and the shares were acquired out of public issues, right issues and bonus issues from Dubai. This protfolio is about 20 years old.
I am maintaining a trading account with Reliance Securities and PIS account with Axis Bank, Ahmedabad.
Out of my portfolio, I have sold shares of Dabur India Ltd – 1000 (purchased in 1985) and Weizmann Forex Ltd - 466 (purchased in 1987).
On settlement date Reliance Securities(RS) held the funds and request me to provide the below mentioned details:-
1] date of purchase and
2] rate of which they were bought.
I have provided the complete details of the above. However, RS did not release the funds and after two days, they sent another e-mail and requested me to submit 15CA & 15BC form duly completed.
I have following questions on the above issue
1. I wonder why Reliance Securities want the referred certificates as the shares were purchased out of NRE quotas and purchase was took place between 1985 to 1987.
2. Of the above referred two forms, 15CA should be prepared by whom? I know the 15CB has to be made by Chartered Accountant.
3. To avoid high fee of Chartered Accountant, If, I open an NRO Trading account and do the trading from their, still will I have to submit the said forms for other companies to Reliance Securities?
4. Is there any way out without submitting the captioned to certificates?
5. Other service provider (bank) never ask to submit such forms to my brother-in-law who actively do trading for one of the bank's portal.
Thank you in advance for your guidance.
Kind regards
Jitendra Thank
I am residing in UAE since August, 1978. I am holding a portfolio of some 40 companies and the shares were acquired out of public issues, right issues and bonus issues from Dubai. This protfolio is about 20 years old.
I am maintaining a trading account with Reliance Securities and PIS account with Axis Bank, Ahmedabad.
Out of my portfolio, I have sold shares of Dabur India Ltd – 1000 (purchased in 1985) and Weizmann Forex Ltd - 466 (purchased in 1987).
On settlement date Reliance Securities(RS) held the funds and request me to provide the below mentioned details:-
1] date of purchase and
2] rate of which they were bought.
I have provided the complete details of the above. However, RS did not release the funds and after two days, they sent another e-mail and requested me to submit 15CA & 15BC form duly completed.
I have following questions on the above issue
1. I wonder why Reliance Securities want the referred certificates as the shares were purchased out of NRE quotas and purchase was took place between 1985 to 1987.
2. Of the above referred two forms, 15CA should be prepared by whom? I know the 15CB has to be made by Chartered Accountant.
3. To avoid high fee of Chartered Accountant, If, I open an NRO Trading account and do the trading from their, still will I have to submit the said forms for other companies to Reliance Securities?
4. Is there any way out without submitting the captioned to certificates?
5. Other service provider (bank) never ask to submit such forms to my brother-in-law who actively do trading for one of the bank's portal.
Thank you in advance for your guidance.
Kind regards
Jitendra Thank
