Why This Matters
Repatriating money from India is not simply a bank transfer. The correct route depends first on what the money represents—NRE or FCNR funds, current income such as rent or dividends, investment proceeds, property-sale money, inheritance or another Indian asset.
The source of the money matters more than the amount you want to transfer.
The same overseas destination can require a different FEMA, tax and banking route depending on how the money was earned, invested or acquired. Before asking “How much can I transfer abroad?”, first identify the source of funds, the account holding them and the repatriation facility that applies.
If you need the broader investing framework first, start with RegalTicker’s complete NRI stock-market guide. If your residential status itself is unclear, use the FEMA vs Income Tax Residency guide.
⚡ Quick answer
How can an NRI repatriate money from India?
An NRI can repatriate eligible money from India through NRE, NRO or FCNR depending on the source of funds. NRE and eligible FCNR funds are repatriable under their account rules. Current income in NRO—such as rent, dividend, pension or interest—follows a separate remittance route, while eligible NRO capital and asset-sale proceeds generally use the USD 1 million per financial year facility, including qualifying NRO-to-NRE transfers. For remittances on or after 1 April 2026, the applicable tax-information framework uses Form 145 and, where required, Form 146. Banks may also require source-specific tax and ownership documents.
Key takeaways
Start with the source of money, not the transfer amount.
NRE and eligible FCNR funds follow a different repatriation framework from NRO capital.
Current income in NRO is not the same thing as capital or asset-sale proceeds.
The USD 1 million facility is a per-person, per-financial-year ceiling for eligible NRO capital/assets, not a separate limit at every bank.
NRO-to-NRE transfers use the same USD 1 million facility when that facility is the applicable route.
Property bought with qualifying foreign/NRE/FCNR funds can follow a different repatriation route from property bought with rupee funds or while resident.
Inherited and legacy assets can use the USD 1 million remittance-of-assets framework subject to conditions and documentary evidence.
Paying tax does not by itself make money automatically repatriable; the FEMA/banking route must also be valid.
For remittances on or after 1 April 2026, use the current Form 145/146 framework where applicable, not outdated instructions built around 15CA/15CB.
Banks can ask for different supporting documents depending on the source of the money.
NRI Repatriation at a Glance
Before looking at any form or bank checklist, classify the money into one of the following routes.
| Money source | Typical holding route | Broad repatriation treatment | Main question |
|---|---|---|---|
| Eligible overseas money in NRE | NRE | Repatriable under NRE framework | Has the money retained its repatriable character? |
| Eligible FCNR(B) deposit | FCNR(B) | Repatriable under FCNR framework | Is the deposit/interest eligible under the account terms? |
| Rent, dividend, pension, interest and other current income | Often NRO | Current-income remittance route, subject to tax/documents | Is this genuinely current income and has tax been handled? |
| Sale of shares, mutual funds or other capital assets held on non-repatriable/NRO route | NRO | Generally within USD 1 million asset/balance facility | Is the amount capital and within the annual facility? |
| Property bought from rupee funds or while resident | NRO | Generally USD 1 million remittance-of-assets route | Can acquisition and sale source be documented? |
| Property bought with qualifying foreign/NRE/FCNR funds | NRE/NRO depending on receipt and bank setup | Separate foreign-funded property repatriation conditions can apply | How was the original purchase funded? |
| Inheritance / legacy / qualifying settlement | NRO | Generally USD 1 million remittance-of-assets route | Is inheritance/legacy evidence complete? |
| NRO to NRE transfer | NRO → NRE | Within the USD 1 million facility where applicable | How much of the annual facility has already been used? |
This table explains why “NRO money is repatriable up to USD 1 million” is only half an answer.
The RBI framework separately permits remittance of current income from NRO and separately provides a USD 1 million facility for eligible balances and assets. Treating every NRO credit as the same category is one of the most common repatriation mistakes.
NRE vs NRO vs FCNR: Which Money Is Freely Repatriable?
The account type is the second layer after the source of funds.
NRE account
An NRE account is designed for eligible non-resident funds and is repatriable under the applicable account rules.
Permissible credits can include eligible inward remittances, transfers from other NRE/FCNR(B) accounts, interest and qualifying investment proceeds that retain a repatriable character.
An NRE balance can generally be remitted abroad without the USD 1 million NRO capital ceiling.
But do not assume that moving money into an NRE account automatically cures an incorrect source or transaction. The underlying transfer into NRE must itself have been permitted.
FCNR(B) account
FCNR(B) is a permitted foreign-currency term-deposit route for eligible NRIs/OCIs.
The principal and eligible interest are repatriable under the account framework, and the account helps avoid converting the deposit principal into rupees while it remains in FCNR(B).
A direct FCNR outward remittance therefore should not be confused with repatriating rupee capital accumulated in NRO.
NRO account
NRO is fundamentally different.
It is commonly used for legitimate rupee funds and Indian-source receipts. RBI permits local payments, transfers to other NRO accounts and remittance of current income abroad.
Beyond current income, eligible NRO balances and asset-sale proceeds can be remitted through the USD 1 million per financial year facility subject to the applicable conditions.
NRO can also be transferred to NRE within this USD 1 million facility.
If you are still deciding why money belongs in NRE rather than NRO, read the NRE vs NRO vs PIS guide before processing a large remittance.
Current Income vs Capital: The Distinction That Changes the Route
This is the section many competing guides skip.
RBI permits the remittance of current income from NRO. Examples commonly include:
- rent;
- dividend;
- pension;
- interest; and
- other legitimate current income.
That is separate from the USD 1 million asset/balance facility.
A current bank implementation can therefore distinguish current income from capital amounts such as:
- sale of property;
- sale of shares or mutual funds;
- gifts;
- asset-sale proceeds;
- inherited assets;
- maturity proceeds that represent capital; and
- other balances using the asset-remittance facility.
IMPORTANT: TITLE: Do not automatically count every NRO rupee against USD 1 million
The RBI NRO framework allows remittance of current income separately from the USD 1 million facility for eligible NRO balances and assets. A bank can still require proof that the amount really is current income and that the applicable Indian tax has been addressed. The source classification matters more than the account balance alone.
Example: rental income
Suppose an NRI receives ₹12 lakh of rent during the year into an NRO account.
The correct analysis is not:
“NRO account means this uses part of my USD 1 million capital limit.”
Instead ask:
- Is the amount genuinely rental income?
- Have applicable Indian taxes/TDS been handled?
- Can the rent source be supported by the lease, receipts, tax records or other bank-required evidence?
- Does the bank process it as current-income remittance?
Example: property sale proceeds
Now suppose the same person receives ₹1 crore from selling an Indian property purchased with rupee funds.
That is not simply another “NRO credit.”
It is capital/asset-sale proceeds and can fall within the USD 1 million remittance-of-assets framework.
The source of funds has changed the route even though the account is still NRO.
Dividend income
Dividend is another example where classification matters.
The Dividend Calculator can estimate dividend income and yield from an Indian equity holding, but its tax indicator is not a final NRI tax determination. For repatriation, the bank will care about the actual dividend credit, tax status and supporting records—not the calculator estimate.
How the USD 1 Million NRO Rule Works
For eligible NRI/OCI remittance of assets, RBI allows up to USD 1 million per financial year from NRO balances and eligible sale proceeds/assets, subject to the relevant conditions, taxes and bank satisfaction.
The financial year runs from April to March.
It is one annual facility—not USD 1 million at every bank
The ceiling should be treated as a per-person annual regulatory limit.
Opening NRO accounts with several banks does not multiply the facility.
Operational bank declarations can require the remitter to confirm the amount already transferred from NRO accounts across all banks in India during the financial year.
Caution
Do not split the transfer across banks to manufacture a larger limit
If you use multiple Indian banks, track the cumulative amount already remitted under the USD 1 million facility during the same financial year. The regulatory ceiling is not intended to become USD 1 million per bank.
NRO to NRE uses the same facility
Another common misconception is that the USD 1 million ceiling applies only when money physically leaves India.
RBI permits transfer from NRO to NRE within the same overall USD 1 million facility.
So moving ₹X from NRO to NRE and later sending it overseas does not create an entirely separate annual quota.
Which assets can come under the facility?
The RBI remittance-of-assets framework covers eligible:
- NRO balances;
- sale proceeds of assets;
- assets acquired by inheritance or legacy;
- qualifying settlement assets; and
- property bought from rupee funds or while resident,
subject to the rules and documentation.
Can you remit more than USD 1 million?
Amounts above the general facility are not automatically allowed through ordinary bank processing.
A case requiring remittance beyond the general permission may need to be examined under the relevant RBI/FEMA approval framework.
Do not structure transactions solely to bypass the annual facility.
Form 145 and Form 146: The 2026 Remittance Forms
This is where many “updated 2026” articles are already stale.
For remittances made on or after 1 April 2026, the Income-tax Act, 2025 and Income Tax Rules, 2026 use:
- Form 145 — corresponding to old Form 15CA; and
- Form 146 — corresponding to old Form 15CB.
Forms filed for remittances completed before 1 April 2026 were under the old framework.
For a remittance actually made on or after 1 April 2026, do not follow a bank checklist or blog that tells you to prepare only old Form 15CA/15CB without checking the current process.
Form 145 has four parts
Under the current Income Tax Department guidance:
| Form 145 part | Broad situation |
|---|---|
| Part A | Taxable remittance and aggregate remittance does not exceed ₹5 lakh during the tax year |
| Part B | Taxable remittance above ₹5 lakh and the required Assessing Officer certificate/order has been obtained |
| Part C | Taxable remittance above ₹5 lakh and Form 146 from an accountant has been obtained |
| Part D | Remittance not chargeable to tax, except specified payments covered by Rule 220(3) |
This means Form 146 is not simply “mandatory whenever the transfer exceeds ₹5 lakh.”
The correct path depends on taxability and whether the remitter is proceeding through an Assessing Officer certificate/order or an accountant’s Form 146.
What is Form 146?
Form 146 is the accountant certificate that corresponds to the old Form 15CB framework.
It supports the tax analysis for the relevant Part C remittance and can include details such as:
- taxability under Indian law;
- DTAA analysis where relevant;
- tax deducted at source; and
- remittance particulars.
Does every NRI remittance require Form 145 and 146?
No universal one-line answer is safe.
Whether Form 145 is required, which part applies, whether Form 146 is needed, or whether the payment is covered by an exclusion under the rules depends on the purpose, taxability and the bank’s processing route.
Current bank guidance also shows that different remittance purpose codes can have different Form 145/146 requirements.
So the correct question is:
“Which current form path applies to this source and purpose?”
not:
“Is every NRO transfer over ₹5 lakh a 146 case?”
Old articles are useful only if translated into the new framework
If you find an older article discussing:
- 15CA Part A;
- 15CA Part B;
- 15CA Part C;
- 15CA Part D; or
- 15CB,
you may still learn the underlying concept.
But for post-April-2026 execution, translate that guidance into the current Form 145/146 framework and verify it on the Income Tax portal or with the processing bank/CA.
How to Repatriate NRO Funds Step by Step
The exact bank interface varies, but the regulatory workflow is remarkably consistent.
Step 1: Confirm your FEMA status
The banking and repatriation route should reflect your actual FEMA residential status.
If you recently moved abroad or returned to India, establish whether you are a person resident in India or a person resident outside India before restructuring accounts or processing a large remittance. Do not use your income-tax residential status, passport, NRE/NRO account type or number of days in India as a substitute for the complete FEMA test.
Step 2: Identify every source of funds
Do not write only “NRO balance.”
Break the amount down into its economic sources.
Examples:
- rent;
- dividend;
- NRO interest;
- salary/gratuity;
- share sale;
- mutual-fund redemption;
- property sale;
- inheritance;
- gift;
- insurance maturity;
- bond maturity;
- inward remittance previously moved to NRO.
A bank can require separate evidence for each source.
Step 3: Classify each source as current income or capital/asset
This determines whether the USD 1 million facility is relevant.
Do this before arranging tax forms.
Step 4: Check the annual USD 1 million usage
If capital or asset proceeds use the facility, include NRO-to-NRE transfers and eligible asset remittances already processed during the same financial year.
Do not track only the transactions at the bank you are currently using.
Step 5: Calculate and settle Indian tax
Tax and repatriation are separate gates.
The bank may need evidence that the remittance is appropriately taxed or not chargeable.
If listed Indian shares are involved, use RegalTicker’s NRI Capital Gains Tax, TDS and Filing guide for the tax framework.
For an educational transaction estimate, the Capital Gains Tax Calculator can classify eligible listed-equity STCG/LTCG and estimate tax under its stated assumptions. It does not model the entire NRI TDS, DTAA or refund position.
Step 6: Determine the Form 145/146 path
Check:
- whether the remittance is chargeable to Indian tax;
- whether aggregate relevant remittances cross the ₹5 lakh threshold;
- whether an Assessing Officer certificate/order is being used;
- whether Form 146 is required;
- whether the payment is excluded by the applicable rule; and
- what the bank requires for the selected purpose code.
Step 7: Collect source-of-funds documents
Build a source file before applying to the bank.
The next sections provide examples.
Step 8: Submit the bank remittance application
Banks can request:
- outward-remittance application/Form A2 or their current equivalent process;
- FEMA declarations;
- source documents;
- Form 145/146 as applicable;
- identity/account documents;
- beneficiary account details;
- purpose code;
- tax evidence.
Step 9: Preserve the complete audit trail
Keep:
- bank statements;
- inward remittance evidence;
- purchase and sale records;
- contract notes;
- property deeds;
- tax certificates;
- filed Form 145/146 acknowledgements;
- CA working;
- remittance advice;
- SWIFT/wire confirmation.
These records can matter years later when explaining source of wealth, tax basis or a further cross-border transfer.
How Investment Proceeds Are Repatriated
If you became non-resident after already building an Indian portfolio, first read RegalTicker’s NRI vs Resident Indian Investing guide to understand how the change in status affects your bank accounts, Demat setup, investment route and repatriation options.
Repatriable investment route
Where an eligible investment was made through a repatriable route and the proceeds retain that character, the money can generally return through the appropriate repatriable banking route.
The exact treatment depends on the product and transaction.
Non-repatriable / NRO route
Sale/redemption proceeds from investments held through the non-repatriable route can fall into NRO and, where eligible, use the USD 1 million asset-remittance facility.
This is why account selection matters before buying the investment.
Use RegalTicker’s NRI Investment Options guide to see which products require Demat, trading or another route, and the NRI Demat Account guide for securities-account structure.
Listed shares
For a listed-share exit, preserve:
- contract notes;
- broker statement;
- Demat statement;
- bank credit;
- acquisition cost records;
- capital-gain working;
- TDS/tax records.
The Brokerage Calculator can estimate Indian trade charges before you sell. The Stock Return Calculator can help measure realised or current investment performance, but neither tool determines repatriability.
Mutual funds
For mutual-fund redemption, keep:
- account/folio statement;
- purchase history;
- redemption statement;
- bank credit;
- capital-gain statement;
- tax/TDS evidence where applicable.
The bank will care about the actual redemption source and documents, not simply the fact that the money came from a “mutual fund.”
Bonds, deposits and other investments
A maturity certificate, issuer statement, Demat statement or other proof may be needed depending on the instrument.
The broad principle is the same:
prove what the money is, prove how you acquired it, prove the tax position, then use the correct banking route.
Ownership limits and repatriation are separate
The rules controlling how much an NRI may hold in Indian shares are not the same as the rules governing outward remittance.
If you are still accumulating Indian equity before a future exit, keep the NRI Investment Limits guide separate from this repatriation analysis.
Use the calculator
Measure irregular investment returns before repatriation
If your investment involved multiple purchases, dividends, withdrawals or redemption dates, use RegalTicker’s XIRR Calculator to measure the money-weighted annualised return.
The calculator measures investment performance only. It does not determine FEMA eligibility, NRI tax treatment, the applicable USD 1 million facility or whether the proceeds are legally repatriable.
How Property Sale Proceeds Are Repatriated
Property is where generic repatriation advice becomes most dangerous.
Two NRIs can sell properties for the same price and have different repatriation routes because they originally funded the purchases differently.
Property bought with qualifying foreign/NRE/FCNR funds
RBI’s immovable-property regulations allow an authorised dealer to repatriate eligible sale proceeds where:
- the property was acquired in accordance with the foreign-exchange law applicable at the time;
- the acquisition amount was paid through qualifying foreign exchange/banking channels or from FCNR/NRE funds; and
- for residential property, the specific repatriation facility is restricted to not more than two such properties.
Do not convert that rule into the statement:
“Every NRI property sale is freely repatriable.”
The original funding source and acquisition compliance matter.
Property bought with rupee funds or while resident
If the property was bought:
- from rupee funds;
- through the non-repatriable route; or
- while the owner was resident in India,
the sale proceeds generally move through the NRO/remittance-of-assets framework, including the USD 1 million annual facility where applicable.
Property inherited or received through legacy
Inherited property also requires a separate evidence chain.
The remitter may need to establish:
- the inheritance/legacy;
- ownership;
- sale;
- tax payment; and
- the bank source trail.
The USD 1 million remittance-of-assets facility expressly includes eligible inherited/legacy assets.
Tax payment does not automatically determine FEMA route
A property buyer may deduct substantial TDS.
The seller may file an Indian return and settle the final capital-gain tax.
That handles the tax gate.
The bank must still establish the FEMA/repatriation gate:
- how the property was acquired;
- how it was funded;
- which repatriation facility applies;
- whether the annual limit is relevant;
- whether the property falls within the two-residential-property condition for the foreign-funded route.
Property documents are more important than a generic CA letter
For large property repatriations, expect the bank to focus on source documentation such as:
- original purchase deed;
- sale deed;
- evidence of original funding;
- NRE/FCNR/inward-remittance evidence where relevant;
- tax/TDS documentation;
- inheritance documents where applicable;
- bank statements;
- Form 145/146 path where applicable.
Plan this before completion of the sale rather than trying to reconstruct the history after the money reaches NRO.
Inheritance, Gifts and Other Indian Assets
The USD 1 million facility is also important for assets that were never “investments” in the ordinary portfolio sense.
Inherited assets
RBI’s remittance-of-assets framework includes eligible assets acquired by:
- inheritance;
- legacy; and
- qualifying settlement.
The remitter should be prepared to produce documentary evidence supporting how the asset was acquired.
For inheritance, that can include documents such as:
- will;
- probate/succession documentation where relevant;
- legal-heir documentation;
- death certificate;
- asset ownership records;
- transfer/sale documents.
The exact set varies with the asset and bank.
Gifts
A gift is not automatically the same as inheritance.
The tax treatment, FEMA permission and bank documentation depend on:
- who gave the gift;
- relationship;
- asset type;
- route of transfer;
- whether the gifted money/asset is permitted; and
- whether tax applies.
If the money is already a legitimate NRO credit, the bank still needs to determine which outward-remittance route applies.
NRO fixed deposit maturity
An NRO fixed deposit is not transformed into freely repatriable NRE money merely because it matured.
The underlying NRO character remains relevant.
If the principal uses the USD 1 million facility, track the annual usage.
Interest is a current-income component and should be analysed accordingly.
Insurance, provident fund, salary settlement and other receipts
Current bank repatriation systems can recognise many source categories, including:
- insurance maturity/claim;
- gratuity;
- provident fund;
- income-tax refund;
- bond/debenture maturity;
- loan repayment;
- vehicle/jewellery sale;
- post-office savings.
But a bank’s source dropdown is not itself the legal rule.
The correct method remains:
source → tax → FEMA facility → evidence → bank processing.
Documents Banks Ask For
No universal checklist works for every remittance.
Banks must understand why the money is in the account and whether the proposed remittance is permitted.
The following is a practical evidence map, not a promise that every bank will ask for exactly the same documents.
| Source | Documents commonly relevant |
|---|---|
| Rental income | Rental agreement, rent receipts, bank credits, TDS certificate/Form 26AS where relevant |
| Dividend | Dividend statement/warrant, bank credit, tax/TDS records |
| NRO interest | Bank statement/interest certificate |
| Share sale | Contract notes, Demat/broker statement, bank statement, capital-gain/TDS records |
| Mutual-fund redemption | Folio statement, redemption statement, capital-gain statement, bank credit |
| Bond/debenture maturity | Maturity certificate, issuer statement or Demat statement |
| Property sale | Purchase deed, sale deed, original funding evidence, bank statements, tax/TDS records |
| Inheritance | Will/probate/succession/legal-heir evidence as applicable, death certificate, asset records |
| Salary/PF/gratuity | Salary slips, employer settlement/PF/gratuity letter, tax records |
| Insurance maturity | Policy document and maturity/claim advice |
| Income-tax refund | Refund advice or bank statement clearly showing the tax refund |
| Earlier overseas/NRE money moved into NRO | Inward-remittance evidence, NRE statement and account trail |
Bank processing documents
In addition to source proof, the bank can ask for:
- remittance application/Form A2 or its current process;
- purpose code;
- FEMA declaration;
- PAN/KYC;
- beneficiary details;
- Form 145/146 as applicable;
- tax certificates or working;
- annual USD 1 million declaration;
- statement of previous remittances.
Source-of-funds documentation is not bureaucracy for its own sake
The bank is trying to answer several distinct regulatory questions:
- Is the money legitimate?
- Is the remitter eligible?
- Is the remittance permitted?
- Is this current income or capital?
- Has applicable tax been addressed?
- Has the annual facility already been used elsewhere?
- Does the purpose code match the transaction?
A clean source file makes all seven questions easier.
Worked Repatriation Examples
💡 Real example
Four NRIs, four different routes
These are simplified educational examples. Exact bank procedures, tax treatment and FEMA outcomes depend on the real documents and transaction.
Example 1: Dubai NRI remitting annual rent
An NRI in Dubai receives ₹18 lakh of legitimate Indian rent into NRO during the year.
The first question is whether this is current income.
If the amount represents current rental income and tax/TDS obligations are dealt with, the bank can process it under the current-income remittance route rather than automatically treating it as part of the USD 1 million asset facility.
The remitter should preserve:
- lease/rent records;
- bank credits;
- TDS/tax evidence;
- Form 145/146 path if applicable to the remittance; and
- bank remittance confirmation.
For UAE account/KYC setup, the NRI Account Opening from UAE guide provides the broader banking-document context.
Example 2: NRI sells shares held through NRO
Suppose an NRI sells Indian shares held through a non-repatriable NRO-linked route for ₹70 lakh.
The sale proceeds represent capital.
The NRI should:
- preserve contract notes and Demat/broker records;
- calculate the Indian capital-gain/tax position;
- reconcile TDS where relevant;
- confirm how much of the USD 1 million facility has already been used during the financial year;
- complete the applicable Form 145/146 path;
- provide source documents to the bank; and
- remit to the overseas account or transfer to NRE if eligible within the same facility.
Example 3: NRI sells a flat bought while resident
Suppose an Indian resident bought a flat years ago using ordinary rupee income, later became NRI and now sells it for ₹2 crore.
The relevant property was not purchased using the special foreign/NRE/FCNR-funded route.
The sale proceeds therefore need to be analysed through NRO/remittance-of-assets rules, including the USD 1 million annual facility.
Paying property capital-gain tax does not convert the sale proceeds into unlimited NRE money.
Example 4: NRI inherits Indian securities and later sells them
An NRI inherits Indian shares from a parent.
Years later, the NRI sells the shares and wants to move the proceeds abroad.
The bank can need:
- inheritance evidence;
- transmission/Demat records;
- sale documents;
- acquisition-cost/tax working;
- tax/TDS evidence;
- bank statements; and
- remittance forms.
The inheritance explains how the asset came into the NRI’s ownership.
The later sale and outward remittance create additional tax and FEMA steps.
Common Repatriation Mistakes and Final Checklist
Mistake 1: Treating all NRO money as the same
Rent and property-sale proceeds are not the same category simply because both reached NRO.
Mistake 2: Assuming the USD 1 million limit applies to every NRO remittance
Current income has a separate remittance treatment.
Mistake 3: Treating USD 1 million as a per-bank limit
Track cumulative use across banks.
Mistake 4: Forgetting NRO-to-NRE transfers
These can consume the same annual facility.
Mistake 5: Using Form 15CA/15CB instructions for a 2026 remittance
For remittances on or after 1 April 2026, check the current Form 145/146 framework.
Mistake 6: Assuming every transfer above ₹5 lakh needs Form 146
Taxability and the specific Form 145 part determine the route.
Mistake 7: Paying tax and assuming the money is automatically repatriable
Tax compliance and FEMA permission are separate tests.
Mistake 8: Losing original funding records for property
How the property was purchased can change the repatriation route years later.
Mistake 9: Waiting until after the sale to collect documents
A large property/investment exit should have a repatriation file prepared before settlement.
Mistake 10: Using the wrong residential status
If you have returned to India or recently left, establish the FEMA and tax status separately before relying on NRI account rules.
NRI repatriation checklist
- Confirm my current FEMA status.
- Identify the exact economic source of every amount being remitted.
- Separate current income from capital/asset proceeds.
- Confirm whether the money is in NRE, NRO or FCNR(B).
- Verify whether the USD 1 million annual facility applies.
- Add all qualifying NRO-to-overseas and NRO-to-NRE transfers already made this financial year.
- Check transfers processed through other Indian banks.
- Calculate and settle applicable Indian tax.
- Use the current Form 145/146 framework for post-1-April-2026 remittances where applicable.
- Confirm which Form 145 part applies.
- Obtain Form 146 only where the applicable route requires it.
- Collect source-of-funds documents.
- For property, preserve original acquisition and funding evidence.
- For inheritance, preserve legal inheritance/ownership evidence.
- Select the correct bank purpose/source code.
- Keep the bank remittance acknowledgement and wire/SWIFT record.
- Retain the complete file for future source-of-wealth and tax questions.
For the complete learning path—from NRI status and account setup to investment limits, taxation, Demat accounts and repatriation—continue with the NRI Investing Specialist Academy.
Frequently asked questions
What does NRI repatriation mean?
NRI repatriation generally means moving eligible money from India to an overseas account through the permitted banking and FEMA route. The exact process depends on the source of funds, account type, tax position and documentation.
How much can an NRI repatriate from an NRO account?
Eligible NRO balances and capital/asset proceeds can generally use the USD 1 million per financial year remittance-of-assets facility, subject to the conditions. Current income such as eligible rent, dividend, pension or interest is treated separately under the NRO current-income remittance framework.
Is the USD 1 million limit per bank?
No. It should be treated as the NRI’s overall annual facility, not a separate USD 1 million allowance at every Indian bank. Banks can ask for declarations covering transfers made across other banks.
Does an NRO-to-NRE transfer count toward the USD 1 million limit?
Yes, RBI permits NRO-to-NRE transfer within the USD 1 million facility. The amount transferred to NRE can therefore use part of the same annual capacity that would otherwise be available for eligible NRO capital remittances abroad.
Is NRE money freely repatriable?
Eligible NRE funds are repatriable under the NRE account framework. However, the money must have entered or been credited to NRE through a permitted route and retained its repatriable character.
Can FCNR deposits be repatriated abroad?
Eligible FCNR(B) principal and interest are repatriable under the FCNR account framework, subject to the account and banking rules.
Can an NRI repatriate rental income without using the USD 1 million facility?
RBI permits remittance of current income such as rent from NRO separately from the USD 1 million asset-remittance facility. The bank can require evidence of the rental source and applicable tax compliance.
Can an NRI repatriate dividend and interest income?
Eligible dividend, interest, pension and similar current income can be remitted under the current-income route subject to tax and documentation requirements. The bank will need to identify the source correctly.
What replaced Form 15CA and Form 15CB in 2026?
For remittances made on or after 1 April 2026, the Income-tax Act, 2025 framework uses Form 145 in place of old Form 15CA and Form 146 in place of old Form 15CB.
Does every remittance above ₹5 lakh require Form 146?
No. Form 145 has different parts depending on taxability, amount and whether an Assessing Officer certificate/order or accountant certificate is used. Form 146 is associated with the applicable Part C route rather than being a universal requirement for every transfer above ₹5 lakh.
Can an NRI repatriate Indian share-sale proceeds?
Yes, subject to the investment route, account structure, tax and FEMA rules. Proceeds held through a non-repatriable/NRO route can generally use the applicable USD 1 million asset-remittance facility, while genuinely repatriable investments may follow their permitted repatriable route.
Can an NRI repatriate mutual-fund redemption proceeds?
Eligible mutual-fund redemption proceeds can be repatriated according to the funding/account route used for the investment and the applicable tax/FEMA conditions. The bank can require the folio, redemption and tax records.
Can an NRI repatriate property sale proceeds?
Yes, but the route depends heavily on how the property was originally acquired and funded. Property bought using qualifying foreign/NRE/FCNR funds can meet a specific repatriation framework, while property bought with rupee funds or while resident generally uses the USD 1 million remittance-of-assets facility. The special residential-property route is restricted to not more than two properties.
Can inherited property or inherited investments be repatriated?
Eligible inherited or legacy assets can use the remittance-of-assets framework, including the USD 1 million annual facility where applicable, subject to documentary evidence of inheritance, ownership, sale and tax compliance.
What documents are needed for NRI repatriation?
Requirements vary by source. Banks can ask for the remittance application, FEMA declarations, Form 145/146 as applicable, tax records, bank statements and source documents such as rent agreements, contract notes, Demat statements, sale deeds, inheritance papers, maturity certificates or employer records.
Can an NRI repatriate more than USD 1 million in one financial year?
Amounts above the general USD 1 million facility are not automatically available through ordinary bank processing. A case exceeding the general permission may require examination under the applicable RBI/FEMA approval route.
Verify through official sources
Official references
- Reserve Bank of India — Accounts in India by Non-Residents — NRE, NRO and FCNR account rules, current-income remittance and NRO USD 1 million framework
- Reserve Bank of India — Remittance of Assets by NRI/PIO — USD 1 million annual facility, sale proceeds, inheritance, settlement and rupee-funded property
- Reserve Bank of India — Remittance of Assets Circular — Operational remittance-of-assets framework for NRO balances, assets, inheritance and rupee-funded property
- Reserve Bank of India — Acquisition and Transfer of Immovable Property in India — Property acquisition/funding conditions, repatriation conditions and two-residential-property restriction
- Income Tax Department — Income Tax Forms — Transition from Form 15CA/15CB to Form 145/146 for remittances on or after 1 April 2026 and current Form 145 structure
- Income Tax Department — Form 145 — Current Form 145 purpose, Part A/B/C/D conditions and Form 146 linkage
- ICICI Bank — Outward Remittance FAQs — Current operational example of NRO repatriation, source-of-funds documents, current income vs capital and Form 145/146 use
- Axis Bank — NRO to NRE Fund Transfer Declaration — Operational declaration illustrating annual USD 1 million tracking across Indian banks
Educational disclaimer: This article is for investor education and general information only. It is not personalised FEMA, banking, tax, legal or remittance advice. RBI directions, Income Tax Rules, bank processes, purpose codes, documentation requirements, tax treatment and overseas receiving-country rules can change. Verify a material remittance with the authorised dealer bank processing the transaction and appropriately qualified tax/legal professionals.
