After selling property in India and paying the applicable tax, an NRI can repatriate (send abroad) the proceeds within FEMA rules.
The key limits
- Repatriation is generally allowed for the sale of up to two residential properties.
- You can repatriate up to USD 1 million per financial year from your NRO account (this overall cap covers sale proceeds and other eligible funds).
- The property should have been acquired in line with FEMA rules, and the amount repatriated should not exceed what was originally paid through NRE/FCNR or foreign remittance for that property.
The process
- Ensure capital gains tax/TDS is settled.
- Your CA files Form 15CB (certificate) and you file Form 15CA online.
- Submit these with your bank, which processes the remittance from your NRO to your overseas account.
Rules and limits change and depend on how the property was originally funded — confirm with your bank and a CA before remitting.
This guide is general information, not legal, tax or financial advice. Rules (FEMA, income tax, TDS, stamp duty) change and depend on your situation — please confirm current rules with a qualified chartered accountant, lawyer or the relevant authority before acting.