"Under the RBI's Liberalised Remittance Scheme (LRS) and FEMA guidelines, an NRI can repatriate up to USD 1 million (or its equivalent in other currencies) per financial year from their NRO account. This limit covers funds from the sale of property, inherited assets, rental income, or other eligible balances in India, after paying applicable taxes. However, if the money repatriation servicesfor property purchased using funds from an NRE or FCNR account, the sale proceeds can be freely repatriated for up to"
"two residential properties, without falling under the USD 1 million limit. To repatriate, the NRI must ensure: All tax liabilities (like capital gains tax) are settled. A Chartered Accountant's certificate (Form 15CA/15CB) is obtained. Funds are routed through the NRO account for transfer abroad. In short, NRIs can transfer significant amounts abroad each year, provided they follow the correct tax and compliance procedures."
RBI's Liberalised Remittance Scheme and FEMA permit NRIs to repatriate up to USD 1 million (or equivalent) per financial year from NRO accounts. The USD 1 million cap applies to sale proceeds, inherited assets, rental income, and other eligible Indian balances after applicable taxes. Sale proceeds from up to two residential properties purchased with NRE or FCNR funds are exempt from the cap and may be freely repatriated. Repatriation requires settlement of tax liabilities including capital gains tax, obtaining a Chartered Accountant certificate (Form 15CA/15CB), and routing transfers through the NRO account. Banks process transfers only after verifying required documents and clearances.
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