Repatriation
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Repatriation is the process of transferring funds held in India -- such as property sale proceeds, rental income, or investment returns -- out of India to an NRI's country of residence, governed by FEMA and subject to RBI documentation requirements and, for NRO-sourced funds, an annual limit.
Funds in an NRE or FCNR account are generally freely repatriable, since they originated from foreign
earnings remitted to India in the first place. Funds in an NRO account -- which typically holds
India-sourced income such as rent, dividends, or property sale proceeds -- can also be repatriated, but are
subject to a combined limit of USD 1 million per financial year (inclusive of all eligible NRO remittances)
and require Form 15CA, and above a prescribed threshold Form 15CB certified by a chartered accountant,
confirming that applicable Indian tax on the funds has been paid or accounted for. The authorized dealer
bank processing the transfer will also have its own documentation requirements, commonly including proof of
the funds' source, such as a sale deed for property proceeds.
