Repatriating Funds from India as NRI — Complete Step-by-Step Guide 2026

NRI repatriation limits under FEMA (2026): NRO account repatriation: maximum USD 1 million per financial year (April-March) per NRI. This covers all NRO remittances combined — rental income, FD maturity, property sale proceeds, dividends, inheritance, any other India-sourced income. NRE account repatriation: fully and freely repatriable — NO annual cap. NRE account funds (deposited from foreign income) can be sent abroad in any amount at any time with no limit. This is the fundamental FEMA distinction: NRO has a USD 1M cap; NRE has no cap. FCNR (Foreign Currency Non-Resident) deposits: fully repatriable upon maturity — no cap, same as NRE. Property sale proceeds: if property was purchased with NRE funds — repatriation is uncapped (treated as NRE-origin funds). If purchased with NRO funds — subject to USD 1M cap. NRI pension income from India: can be repatriated without limit (separate provision for pension, social security). Joint account: USD 1M cap applies per NRI individually — a joint NRO account held by husband and wife NRIs can each repatriate USD 1M.

Form 15CA and 15CB are mandatory documents for NRI fund repatriation from India: Form 15CB: a Chartered Accountant certificate confirming that applicable Indian taxes have been deducted or paid on the funds being repatriated. The CA computes: total India income in the remittance, applicable tax rate (ITR assessment or TDS), taxes deducted at source, any balance tax payable, and certifies DTAA provisions applied if relevant. Chartered Accountant digitally signs Form 15CB on the income tax portal. Form 15CA: your (the NRI remitter) declaration to the income tax department about the nature of the remittance. Uploaded by you (or your CA) on incometax.gov.in after Form 15CB is certified. Part A, B, C, or D depending on remittance amount and whether 15CB is required. Process: (1) CA prepares and uploads Form 15CB on income tax portal. (2) Obtain 15CB certificate number. (3) Upload Form 15CA with reference to 15CB. (4) Take Form 15CA/15CB to your bank along with repatriation request. (5) Bank verifies, processes foreign remittance. Total processing time: 3-7 days from CA engagement to bank completing remittance.

Bank account repatriation rules for NRIs: NRE (Non-Resident External) account: fully repatriable anytime. Source of funds: foreign remittances brought to India. No Indian-sourced income allowed in NRE (would violate FEMA). Repatriation: any amount, any time, no cap, no 15CA/15CB required. NRO (Non-Resident Ordinary) account: repatriable up to USD 1 million per year. Requires: 15CA + 15CB (CA certificate), proof of tax deduction (TDS certificate or advance tax payment), ITR of relevant years in some cases. Source: India-sourced income (rent, dividends, salary, pension, FD interest). FCNR (Foreign Currency Non-Resident) deposit: fully repatriable at maturity. Held in foreign currency (USD, GBP, EUR etc.) within Indian bank. At maturity: full principal plus interest remitted to NRI abroad without any cap. RFC (Resident Foreign Currency) account: applicable on return to India (converting NRE). During RNOR period: fully repatriable. After ROR: repatriation requires RBI approval. Resident savings/FD account: generally NOT repatriable freely. Resident accounts are for India-use money. If an NRI accidentally converts NRE to resident savings (instead of RFC): repatriation becomes complex and requires case-by-case RBI approval.

Property sale repatriation — step by step: Step 1 — Sale completion: property sold, proceeds credited to NRI NRO account. Buyer should have deducted TDS (20% on LTCG property, 30% on STCG) before paying. Step 2 — Tax compliance: verify TDS was deposited by buyer (Form 26AS). If NRI is entitled to lower tax (actual LTCG tax on gain vs 20% TDS on full value): file ITR, claim refund. OR apply for lower TDS certificate before sale (Section 197). Step 3 — CA engagement: engage a CA to prepare Form 15CB. CA verifies: TDS deposited, ITR compliance, DTAA applicable, net amount eligible for repatriation. CA issues 15CB certificate digitally. Step 4 — Form 15CA: upload on incometax.gov.in with 15CB reference number. Step 5 — Bank repatriation request: submit to NRO account bank: Form 15CA acknowledgement, 15CB certificate, TDS certificate (Form 16A from buyer), sale deed copy, CA letter. Step 6 — Bank processes: 3-7 working days for bank FEMA compliance check and foreign remittance. Annual cap: if property sale proceeds exceed USD 1 million equivalent, requires multiple financial years or RBI special approval. For NRE-funded property: no annual cap — full proceeds repatriable in one transaction.

Tax compliance required before NRI repatriation: All India income must be tax-compliant before repatriation. Required: TDS deducted and deposited on all India income (bank ensures this on NRO FD; buyer must ensure on property sale), ITR filed for relevant assessment year if income above filing threshold, advance tax paid if applicable (self-assessed tax for income where TDS was insufficient). The 15CB process ensures: CA examines all India income, verifies all taxes paid, certifies the net amount is eligible for remittance. What happens if taxes are not paid: bank will refuse to process repatriation without 15CA/15CB. If 15CB is submitted with incorrect tax computation: both NRI and CA are liable. If ITD later finds under-taxation: demand notice with interest (Section 234B, 234C). DTAA benefit in 15CB: if NRI is resident in a treaty country, CA can include applicable DTAA provisions in 15CB — reducing effective India tax on certain income types before computing net remittable amount. No TDS for small NRO amounts below threshold: some banks allow small NRO remittances without 15CA/15CB if total remittance to NRI is below Rs5L in a year — check with your specific bank for current threshold.