You've sold. Now the money has to reach your account abroad — and this is where NRIs most often get stuck at the bank. The rules are clear once you know them.
Where the money lands first
Sale proceeds of property bought as a resident, or inherited, route to your NRO account. Proceeds of property bought with funds from your NRE/FCNR account can go back through NRE and are freely repatriable.
From an NRO account you may repatriate up to USD 1 million per financial year (all NRO sources combined), subject to taxes being paid. NRE balances are freely repatriable without this cap.
Before the remittance, you file Form 15CA (your declaration) and obtain Form 15CB (a Chartered Accountant's certificate confirming taxes are handled). Banks will not release the funds without them.
How much can an NRI repatriate from India per year?
Up to USD 1 million per financial year from an NRO account (all sources combined), subject to taxes being paid. NRE balances are freely repatriable without this limit.
What are Forms 15CA and 15CB?
Form 15CA is the remitter's declaration; Form 15CB is a Chartered Accountant's certificate that taxes on the remittance are handled. Banks require both before releasing funds abroad.
Can I repatriate proceeds of inherited property?
Yes, within the USD 1 million per year NRO limit, with 15CA/15CB and the inheritance and tax paperwork in order.
Is NRE money freely repatriable?
Yes — balances in an NRE account are freely repatriable abroad without the USD 1 million cap.
This is general information, not legal, tax or financial advice. Rules and rates change; verify current specifics. Wherever legality so concerns, we facilitate through a Chartered Accountant and a Lawyer. Contact Vinod Kumar Jain at +91 98111 58486 for personalised guidance.