REPATRIATION OF FUNDS

REPATRIATION OF FUNDS

Most of the NRIs are likely to have properties in India when they were resident of India. NRIs also tend to have inherited properties in India, which they sometimes sell when they are settled abroad and have no plans to return to India. Some of the NRIs rent their properties and get rentals in India. Some NRIs also invest foreign capital in properties, shares and deposits. All the money from investment along with appreciated value get into their NRO accounts. NRIs are allowed to repatriate an amount upon upto USD 1 million in a financial year from their NRO accounts. Amount can be repatriated subject to all the tax compliance. NRI can repatriate funds along with capital appreciation (if any), after payment of all the taxes due in India.

To repatriate money from India, an NRI must produce all the documentary evidence supporting the source of money to be repatriated along with certificate from Chartered accountant in Form 15CB and Form 15CA. Funds will only be repatriated to self-owned account in abroad.

Form 15CA is to be filled online at Income tax website for which Form 15CB is required from Chartered Accountant. Form 15CB is a certificate to be issued by Chartered accountant that certifies details of payments, TDS rate, DTAA compliance etc. Form 15CA can be prepared only after obtaining Form 15CB. Bank will not proceed remittance without Form 15CB and Form 15CA.

How much to pay for
Repatriation of funds?

Repatriation of funds would start from INR 9999/-

Features At A Glance
Starting from INR ₹ 14999/-   ₹ 9999/-
All Inclusive Fees
  • ✓ Determining whether all taxes are paid in India
  • ✓ Determining the nature of funds to be repatriated from India
  • ✓ Determining whether the taxability of the funds
  • ✓ Calculation of capital gain and taxes thereon
  • ✓ Verifying taxes withheld in India
  • ✓ CA Certificates in Form 15CB
  • ✓ Preparation assistance with Form 15 CA
  • ✓ Expert consultancy with taxation experts
  • ✓ Delegated Professional to coordinate exclusively to your case at a time.
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  • Repatriation refers to the ability of funds to be transferred freely anywhere across the nations.
  • Repatriation Application Form needs to filed online with Income Tax authorities along with information in the Form 15 CA and 15 CB.
  • Form 15 CB is a certificate certified by a Chartered Accountant to determine the tax deduction as per the income tax rules and also to avoid the double taxation.
  • It is very important to make sure that all the taxes are paid before repatriation of such funds.
  • One can repatriate sale proceeds of immovable property acquired in India out of your repatriable funds, without any lock-in period.
  • Repatriation of funds must be adhering the rules and guidelines as laid down by RBI.
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FAQ
frequently asked questions

frequently asked questions
1. What is repatriation of funds in context of NRIs?
NRIs repatriation of funds refers to funds that can be transferred from India to any other nation after paying all taxes and duties (if any).
There will be a need to submit a certificate from your chartered accountant declaring that all taxes on the funds to be repatriated have been paid. Only then bank will permit the repatriation from your NRO account.
Any income earned in India i.e. pension, salary, rent, interest, dividend, sale of property or investment can be repatriated.
There is no limit when funds are repatriated from NRE account whereas one can repatriate up to $1 million per year from NRO account.
Yes, one can take special permission from Reserve Bank of india (RBI) to do for puposes like medical emergency, Education, investment in real estate etc.

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