"Essential Guide: Repatriating Funds for NRIs"

The article provides a comprehensive guide for Non-Resident Indians (NRIs) on repatriating funds from India, detailing eligible accounts, required documentation, tax rules, repatriation limits, and transfer modes. Key considerations include compliance with FEMA regulations and consulting tax advisors for complex transactions.


Non-Resident Indians (NRIs) often need to repatriate funds from India to their country of residence. Below is a detailed table outlining the process and tax rules involved.
Aspect Details
Eligible Accounts for Repatriation NRIs can repatriate funds from the following types of accounts:
- Non-Resident External (NRE) Account: Fully repatriable.
- Non-Resident Ordinary (NRO) Account: Repatriable up to $1 million per financial year.
- Foreign Currency Non-Resident (FCNR) Account: Fully repatriable.
Supporting Documentation - Form 15CA: To declare remittance details.
- Form 15CB: Certificate from a Chartered Accountant confirming that taxes have been paid or are not applicable.
- Bank-specific remittance forms.
Tax Rules - Interest earned on NRE and FCNR accounts is tax-free in India.
- Interest earned on NRO accounts is taxable at 30% (plus applicable surcharge and cess).
- Capital gains from investments (shares, mutual funds, property) are subject to applicable tax rates.
- Proper tax clearance is required for repatriation.
Limit on Repatriation - NRE and FCNR accounts: No limit on repatriation.
- NRO accounts: Up to $1 million per financial year, subject to submission of required documentation.
Modes of Repatriation - Wire transfer to overseas bank accounts.
- Demand draft or cheque issued in foreign currency.
- SWIFT transfer through Indian banks.
Key Considerations - Ensure compliance with FEMA regulations.
- Obtain a tax deduction certificate if required.
- Consult a tax advisor for complex transactions or investments.


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