Repatriation of Assets
Repatriation of Assets from India β NRI/PIO Transfers Made Simple
At Casela Advisors, we specialize in helping Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) with the repatriation of funds from Indiaβwhether from an NRO account to an NRE account or to an overseas bank account. Our dedicated team of NRI Chartered Accountants ensures full compliance with the Foreign Exchange Management Act (FEMA) and the Income Tax Act, 1961, while handling documentation and bank coordination end-to-end.
πΌ What Is Repatriation?
Repatriation is the legal process of transferring funds/income from:
- A Non-Resident Ordinary (NRO) account to a Non-Resident External (NRE) account, or
- An overseas bank account
This service is vital for NRIs and PIOs looking to move their legally earned income or capital gains abroad.
π¦ Common Sources of Repatriable Funds Held by NRI/PIOs
You can repatriate funds that originate from:
- Assets held before leaving India
- Inherited property, fixed deposits, or financial assets
- Investments made in India through overseas remittances
- Income earned on Indian assets β like rent, interest, dividends, or capital gains
π How Much Can NRIs/PIOs Repatriate?
Type of Asset or Income | Limit for Repatriation | Key Notes |
---|---|---|
β Current Income (interest, rent, salary, dividend) | No Limit | Must be supported with tax payments and documents |
π Sale proceeds of property acquired in Forex (via NRE/FCNR/inward remittances) | Fully repatriable | Max. 2 residential properties under free repatriation |
π Sale proceeds of property acquired in INR or inherited | USD 1 million per FY | Under FEMAβs USD 1 million scheme |
πΉ Sale of other assets (mutual funds, FDs, shares, etc.) | USD 1 million per FY | Subject to tax compliance |
β οΈ Note on Non-Repatriable Investments
Investments in non-repatriable shares or securities (when purchased with repatriation restrictions) may not qualify for repatriation. Some banks now deny repatriation under the USD 1 million scheme for such investments.
π Advice: Always consult Casela Advisors before initiating repatriation to ensure your investment is eligible.
πΏ Note on Agricultural Land & Restricted Properties
Under FEMA:
- NRIs cannot buy agricultural land, plantation property, or farmhouses.
- However, such properties can be retained if inherited or purchased while resident in India.
- Properties held illegally or in violation of law are not eligible for repatriation.
π Documents Required for Repatriation of Funds
To transfer money from India to an overseas account or to an NRE account, the following documents must be submitted to your Authorized Dealer (AD) Bank:
- Form 15CA β Undertaking by the NRI/PIO (filed online via Income Tax Portal)
- Form 15CB + UDIN β Certificate issued by a Chartered Accountant, confirming that tax has been paid
- Form A2 & Outward Remittance Form β In case of foreign remittance from NRO A/c
- FEMA Declaration & Transfer Request Form β In case of NRO to NRE account transfer
- Any additional bank-specific documents as per KYC/compliance requirements
π― Casela Advisors offers end-to-end assistance with Form 15CA/15CB filing, helping NRIs avoid errors, delays, and penalties.
π Want to Repatriate Over USD 1 Million?
If your repatriation requirement exceeds USD 1 million in a financial year, you can apply for special approval from RBI. Common grounds for approval include:
- Medical emergencies
- Higher education expenses abroad
- Genuine hardship cases
π Our experts at Casela Advisors can prepare the RBI application and supporting documentation to ensure fast-track approvals.
βοΈ Additional FEMA Guidelines & Practical Considerations
- β Every repatriation must be tax compliantβinterest, capital gains, rent, etc. should be declared and taxed accordingly.
- β Funds transferred between NRO accounts (e.g., between spouses) cannot be repatriated unless representing genuine income.
- π Unused yearly repatriation limits cannot be carried forward.
- πΌ Only one AD bank can be used for repatriation in a given financial year.
- π Gifts received from resident relatives (up to USD 250,000 per year) can be repatriatedβbut subject to bank restrictions and LRS guidelines.
- πΈ Funds in NRE accounts are fully repatriable with no limits.
π‘οΈ How Casela Advisors Helps NRIs & PIOs
We are your trusted Chartered Accountants for NRI Services in India. Our team at Casela Advisors helps you with:
β
End-to-end NRO to NRE transfer services
β
Filing of Form 15CA and 15CB with UDIN
β
Tax computation on rental income, capital gains, or interest
β
Document collection, coordination, and compliance with FEMA & RBI
β
Filing requests for special RBI approval (above USD 1 million)
β
FEMA consulting and repatriation tax advisory
π Need assistance with transferring your funds abroad legally and efficiently?
πΉ Contact Casela Advisors today β Your Expert NRI Chartered Accountant in India for all Repatriation, FEMA & Tax Compliance matters.