The transfer of funds/income by NRI (Non-Resident Indian) or PIO (Person of Indian Origin) from the balances held in their Non Resident (Ordinary) Rupee account (NRO a/c) to his/her Non Resident External account (NRE a/c) or overseas bank account is termed as Repatriation. 

1. Sources of Assets/Funds held in India by NRIs or PIOs:

i) Assets/ Funds held when they migrated from India; or
ii) Inheritance of Assets/ Funds; or
iii) Assets/ Funds arising out of overseas remittances made to India for investment purpose or otherwise; or
iv) Income earned on such Assets/Funds held in India.

Over the years, the Indian Government has substantially liberalized remittances of income and assets. 

2. What and how much NRIs/PIOs are permitted to Repatriate from India?

Sr. No


What can be repatriated


Limit for repatriation



Current Income:

Income in the nature of salary, pension, dividend, interest, rent, distribution from any type of deposits, investment, or properties including profits from proprietorship or partnership business. (Also refer Note 2)


Without limit


Repatriation of Sale Proceeds of Assets (other than Immovable Property):

Balance held in NRO a/c, sale proceeds of assets/ assets in India acquired by way of inheritance/legacy or under deed of settlement by parents or specified relative (Also refer Note 4)



USD 1 million per Financial Year


Repatriation of Sale Proceeds of Immovable Property (other than agricultural land/farm house/plantation property)(Also refer Note 5):


A)  Property acquired in Forex:

1.  Amount paid in foreign inward remittance /out of funds held in Foreign Currency Non-Resident account (FCNR a/c) or NRE a/c for acquisition of immovable property


2.  Residential accommodation purchased out of funds raised by way of loan in accordance with Foreign Exchange Management Act, 1999 and repayment of such loan out of foreign inward remittance/funds held in NRE a/c or FCNR a/c


3.  If sale proceeds are more than (1) or (2) above.


B) Property acquired otherwise than in Forex:








Equivalent to Forex investment




Equivalent to repayment of loan in Forex




Excess amount upto USD 1 million per Financial Year

USD 1 million per Financial Year

1. Every repatriation is subject to payment of applicable taxes in India.
2. Current income earned in any year is permitted to be repatriated in the same year or in any subsequent years cumulatively.
3. NRE funds are freely repatriable without any limit.
4. Balances held in the NRO a/c should arise from his/her legitimate dues receivable in India and not by borrowing from any other person or transfer from any other NRO account.
5. In case of residential property, the repatriation of sale proceeds shall be restricted to two such properties. 

3. Special provisions for Foreign Nationals (other than PIO or citizen of Nepal/Bhutan)

Remittance of assets may be allowed by a foreign national where:

i) He/she has retired from employment in India, or

ii) He/she has inherited from a person resident outside India who was resident in India at time of acquiring such asset or had inherited it from a person who was resident in India

iii) He/she is a non-resident widow/widower and has inherited assets from her/his deceased spouse who was an Indian national resident in India

The remittance should not exceed USD 1 million per financial year. This limit, however, will not cover sale proceeds of assets held on repatriation basis. In case the remittance is made in more than one instalment, the remittance of all instalments should be made through the same Authorized Dealer (AD) Bank. 

iv) the remittance is in respect of balances held in a bank account by a foreign student who has completed his/ her studies, provided such balance represents proceeds of remittances received from abroad through normal banking channels or rupee proceeds of foreign exchange brought by such person and sold to an AD Bank or out of stipend/ scholarship received from the Government or any organisation in India.
4. Documentary Evidence:

The remitter of funds is required to submit following documents to AD Bank for remittance of funds to NRE account or overseas bank account:

i) Form 15CA:
Undertaking by the remitter to be signed either physically or through a digital signature and submit online on the Tax Department website. 

ii) Form 15CB:
Certificate to be obtained from a Chartered Accountant confirming that applicable taxes are paid on the remittances. 

iii) Form A2/Outward Remittance Form in case of transfer of funds from NRO account to overseas bank account
iv) FEMA Declaration/Transfer Request in case of transfer of funds from NRO account to NRE account

v) Any other documents required by AD Bank

5. Special approval from RBI:

RBI may approve repatriation beyond limits specified in case where hardship will be caused to a person if remittance from India is not made to such a person. Accordingly, RBI may grant permission for medical purpose, education, home purchase or similar requirements at their discretion.

6. Typical Issues:

i) If yearly limit of USD 1 million is not utilized, then the same cannot be utilized in subsequent years.

ii) Recently, RBI has instructed that gifts received from residents is permitted to be credited to NRO account of the NRI up to USD 250,000 only and thus indirectly limiting repatriation of such receipt by NRI up to this limit.

iii) Remittances from NRO account to NRE account or overseas bank account can only be done through a single AD Bank in a particular Financial Year.
          -updated on 06-2019