Repatriation of Funds & Assets for NRIs / PIOs
Repatriation refers to transferring funds from an NRO account to an NRE account or an overseas bank account.
At ND Savla & Associates, we help NRIs and PIOs evaluate eligibility, compute taxes, prepare Form 15CB, file Form 15CA,
and coordinate the entire process with your authorised dealer (AD) Bank for seamless remittance.
1. Typical Sources of Assets / Funds in India
- Assets or funds held in India before becoming an NRI
- Assets received through inheritance
- Funds remitted from overseas and invested in India
- Income generated in India (rent, interest, capital gains, etc.)
All these categories may be eligible for repatriation subject to FEMA rules, tax payment, and bank compliance.
2. What Can Be Repatriated and to What Extent?
Current Income – No Limit
Dividend, rent, salary, interest or similar income can be repatriated without any monetary ceiling after taxes.
Property Sale Proceeds
Fully repatriable if property was bought using foreign exchange. Otherwise, repatriation allowed up to USD 1 million per year.
Other Investments
FDs, mutual funds, bonds, inherited assets — repatriable up to USD 1 million per financial year.
Note: Non-repatriable investments may face bank restrictions. Always confirm with your AD Bank.
Agricultural land, farmhouses, and plantation property cannot be acquired by NRIs. Repatriation of such assets is restricted unless inherited or previously owned while resident.
3. Documentation Required for Repatriation
- Form 15CA – Online declaration, e-verified by remitter
- Form 15CB – CA certificate with UDIN confirming tax compliance
- Form A2 & Outward Remittance Form – For overseas transfers
- FEMA Declaration – For NRO to NRE transfers
- Supporting documents: sale deeds, inheritance papers, bank statements, tax challans, computation sheets
ND Savla prepares the tax workings, Form 15CB, and coordinates with banks to complete the repatriation smoothly.
4. Repatriation Beyond Standard Limits
If you need to remit more than USD 1 million in a financial year, we assist in applying to the RBI for special approval.
Higher limits may be approved for:
- Major medical expenses
- Overseas education costs
- Other genuine hardship cases
5. Important Practical Points
- Tax must be paid on income or capital gains before repatriation.
- Funds in NRO must arise from legitimate Indian sources — not borrowed or artificial transfers.
- USD 1 million limit is yearly and cannot be carried forward.
- Multiple transfers allowed, but must be through the same AD bank.
- Gifts from resident relatives are allowed but subject to FEMA and TCS rules.
- NRE account balances are fully repatriable without limit.