First, the two accounts that decide everything
Every rupee an NRI holds in India lives in one of two kinds of accounts, and the repatriation rules differ completely between them. An NRE (Non-Resident External) account holds money that came from abroad; it is freely repatriable — principal and interest — with no ceiling and no tax forms. An NRO (Non-Resident Ordinary) account holds money earned in India: rent, sale proceeds, dividends, pension. NRO money is repatriable only within limits and only with a tax-compliance trail.
The USD 1 million scheme
Under RBI's remittance rules, an NRI or PIO may repatriate up to USD 1 million per financial year (April–March) from NRO balances, without any special RBI approval. The limit is cumulative across all your NRO accounts at all banks — not per account. It covers rent, sale proceeds of property, inheritance, and other legitimate Indian income. For sums beyond USD 1 million in a single year, prior RBI approval is required — in practice, large sale proceeds are often staged across two financial years instead.
- The financial-year reset (1 April) is a planning tool: a ₹12 crore sale can move as two tranches either side of 31 March.
- The source of funds must be documented — banks will ask how the money entered the NRO account.
- Current income (rent, dividends, pension) is repatriable in the year it is earned, provided tax has been settled on it.
Forms 15CA and 15CB — now Forms 145 and 146
Before a bank remits NRO money abroad (or even moves it from NRO to NRE), it asks for the income-tax department's remittance forms. Form 15CB is a chartered accountant's certificate stating the nature of the income and that tax on it has been paid or provided for. Form 15CA is your own online declaration, filed against the CA's certificate. With the Income-tax Act 2025 in force from 1 April 2026, these are being renumbered as Form 145 (the declaration) and Form 146 (the CA certificate) — banks and CAs currently use both names interchangeably.
| Remittance in the FY | What you need |
|---|---|
| Up to ₹5 lakh | Form 15CA Part A only — a simple self-declaration, no CA needed |
| Above ₹5 lakh | Form 15CB (CA certificate) + Form 15CA Part C quoting it |
| Covered by specific exemptions | Some remittance types need no form — your bank confirms |
The practical sequence: engage a CA → CA reviews the source of funds and tax paid → CA files Form 15CB online and gives you the acknowledgement number → you file Form 15CA Part C quoting it → both acknowledgements go to the bank → the bank remits, typically within 2–4 working days. End to end, a clean case takes under a week.
The special case: repatriating property-sale proceeds
Sale proceeds are where repatriation gets genuinely demanding, because the tax trail must be complete before the money can move. When an NRI sells property, the buyer must deduct TDS on the sale (at rates tied to capital-gains tax, not the 1% that applies to residents). The sale proceeds land in your NRO account. To repatriate them you will need the sale deed, proof of the original purchase (to establish capital gains), the TDS certificate from the buyer, and the CA's Form 15CB confirming the capital-gains tax position.
- Property bought as a resident, sold as an NRI: proceeds are repatriable within the USD 1M scheme with the full document trail.
- Property bought with foreign funds (via NRE/FCNR): repatriation up to the original foreign-currency purchase amount has a separate, more generous route — for residential property, generally limited to two such properties.
- Inherited property: repatriable under the USD 1M scheme with the inheritance documents (will/succession certificate) added to the file.
- A lower-TDS certificate obtained before the sale (against actual capital gains, not the gross price) prevents a large refund from being stuck with the department for a year.
Why banks actually block transfers
Banks rarely refuse because the law forbids the transfer. They refuse because the file is incomplete. The recurring gaps: rent was collected in cash or into a resident savings account instead of the NRO account; TDS was never deducted by the tenant, so the CA cannot certify the tax position; the original purchase deed cannot be found, so capital gains cannot be computed; or the account was never converted from "resident" to NRO after the owner moved abroad (a compliance breach in itself). Every one of these is preventable with ordinary record-keeping done at the time, not reconstructed years later.
Where a property manager fits in
Vasaaya never touches or holds your money — repatriation runs through your bank and your CA. Our job is the evidence layer that makes their job fast: rent reconciled monthly into a clean ledger, every TDS certificate and property document stored in your vault with expiry tracking, and the complete file ready to hand to a CA the day you decide to sell or remit. The difference between a five-day repatriation and a five-month one is almost always the state of the paperwork.
Frequently asked questions
How much money can an NRI repatriate from India per year?
Up to USD 1 million per financial year from NRO balances, cumulative across all NRO accounts, with no RBI approval needed. NRE and FCNR balances are freely repatriable with no limit. Amounts beyond USD 1 million from NRO need prior RBI approval — or staging across financial years.
What are Forms 15CA and 15CB, and what changed in 2026?
Form 15CB is a chartered accountant's certificate that tax has been settled on the money being remitted; Form 15CA is your online declaration quoting it. Under the Income-tax Act 2025 (effective 1 April 2026) they are renumbered as Forms 145 and 146 — same function, new names.
Do I need a CA for every transfer abroad?
Not for small ones. NRO remittances up to ₹5 lakh in a financial year need only the simple self-declaration (15CA Part A). Above ₹5 lakh, you need the CA certificate (15CB) plus 15CA Part C.
Can I move money from my NRO account to my NRE account?
Yes — an NRO-to-NRE transfer is treated like a repatriation: it counts against the USD 1 million limit and needs the same 15CA/15CB trail. Once in NRE, the money is freely repatriable and earns tax-free interest in India.
Can I repatriate the full proceeds of a property sale?
Usually yes, within the USD 1 million per-year ceiling, once capital-gains tax is settled and certified by a CA. If the property was originally bought with foreign funds through NRE/FCNR, repatriation up to the original purchase cost has a separate route (limited to two residential properties).
My rent has been going into an old resident savings account. Is that a problem?
Yes — after becoming an NRI you are required to convert resident accounts to NRO. Rent accumulated in a resident account creates a compliance gap that banks flag at remittance time. Convert the account and route rent through NRO going forward; a CA can help regularise the history.
How long does a repatriation actually take?
A clean case — documents ready, tax paid — takes under a week: 2–4 days for the CA to issue 15CB and file 15CA, then 2–4 working days for the bank. Messy files (missing purchase deed, no TDS trail) can take months, which is why the record-keeping matters more than the process.
This guide is general information, not legal, tax, or financial advice. Rules change and your situation is specific — always confirm with a chartered accountant or lawyer before acting. Figures reflect the law as of the date shown above.
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Vasaaya manages NRI-owned property in Jaipur and across Rajasthan — geo-verified visits, a clean rent ledger, and a document vault that makes your CA's job easy.