How can NRIs transfer funds Overseas from India?
NRIs live abroad and earn money abroad but many of them have money in India through passive earning such as rent or through the sale of investments and property. It is possible for them to transfer these funds outside India provided they follow the regulations laid down by RBI.
Read – Gift by NRIs to Resident Indian & vice Versa
Repatriation or Outward Remittance India
Sending money abroad is known as repatriation or outward remittance. It can be done through your banking channel only either using online services or via demand drafts or cheques. You cannot use the services of money transfer agents.
NRIs will not have a resident Indian bank account. So their earnings in India will be credited to the NRO account. NRIs who do not have plans to come to India for good in the near future will not have much use of the money lying idle in the NRO account.
To help them use it effectively, the Reserve Bank of India (RBI) allows an amount of up to USD 1 million per financial year from the NRO account to the NRE account. The limit includes the payment of applicable taxes.
If an NRI sells a residential or commercial property, the amount that was brought in India to buy the property can be freely repatriated. The amount would have been brought in via an NRE account. It should be noted that proceeds of the sale of only two properties can be repatriated.
If the NRI brings in money from abroad to repay the home loan amount taken to buy the property, the bank from which he took the loan will allow him to freely repatriate an equivalent amount to what was brought in the country from abroad.
There can be cases where the NRI has made an investment in India using funds that were brought in India from abroad and then sells it. The sales proceeds of such investment can be repatriated freely after paying capital gains tax if applicable.
Interest earned and account balance in NRE and FCNR accounts can be freely repatriated abroad.
Must Check –Power of Attorney for NRI
Rules For Transfer of Money from India –
An NRI has to follow certain rules to transfer his money from India to the foreign country where he is residing –
- The NRI has to fill up and submit Form 15CA Format (online application form) and Form 15CB (Chartered Accountant Application) to the bank branch to transfer money from India to a foreign country.
The 15ca format form can be accessed here –
Also Read – NRI Joint Account with Resident Indian
Form 15CB – Login to the portal and access the ‘forms’ section. This form is required only in certain conditions. For example, it is not required when the remittance is less than 50,000 in one transaction and less than 2,50,000 overall in one financial year
- The exchange rates prevailing at the time of processing the repatriation request will be applicable.
- It is important to give correct bank account details for the repatriation request as the bank in India might not be able to validate the details of a foreign bank account.
- It will take two working days for the transfer to get completed.
Most banks in India allow NRIs to transfer funds from India to the country they are living in.
Exceptions
Theoretically, there are many exceptions where you don’t require form 15ca & 15cb but my interaction with many NRIs & few CAs make me believe that bankers don’t want to take any risk when it comes to NRI issues. You can share your views in the comment section.
Check – Status of NRE FD after returning to India
Double Taxation Avoidance Agreement (DTAA)
If your remittances consist of interest from an NRO deposit, the bank is required to deduct tax at the source of the interest at the rate of 30%. Suppose you live in the US or UK or any other country that has a DTAA with India, then you are eligible for a reduced TDS rate of 15%.
The bank will require you to submit a Tax Residency Certificate from your country of residence if you want to avail of this reduced rate.
The basis of DTAA is that a particular income is taxed in both countries. There are scenarios of DTAAs that India has signed with countries that do not have personal tax. However, there are instances where a foreign country may not levy a personal tax on its residents, yet India has a DTAA with those countries that allow NRIs of those countries to avail a reduced rate of TDS.
In such cases, each bank might have its own way of handling this. Some banks like the State Bank of India require you to submit a declaration form if you reside in a country that has a zero tax but has a DTAA with India that offers a lower rate of TDS. On submitting this self-declaration, the bank will deduct tax at the source at the reduced rate instead of the mandated 30%.
Please share your experience regarding outward remittance. If you have any questions related to repatriation – feel free to add them in the comment section.
If I sell the property in India, the money transferring to other country, do I need to pay any tax?
hello Can I send My NRI money in India to Canada?
Actually I want to self transfer my money from nre account to Australia account through NetBank
I’m planning to sell property in India. Buyer is paying half bank and half cash settlement. How can I transfer yo australia without any tax.
Hi Iwinsaga,
The RBI has regulations on transferring money abroad. You may need to obtain a certificate from a CA regarding the source of the funds and comply with RBI regulations. and you will need to consider the Australian tax implications. Australia has its own tax laws, and you should be aware of any tax obligations in Australia regarding the funds you receive.
I am an NRI I want to buy a house in Dubai UAE after selling a peice of land in India.How can I do it.How much tax I have to pay.
Hi Su wani,
When you sell a property in India, you may be subject to capital gains tax. The tax liability depends on various factors, including the holding period of the property, and the capital gains tax rate in India at the time of the sale.
Have an NRO account. I would like to do an outward remittance from India to Bank of Scotland for about 1500 pounds. What is the procedure?
Hi Prafulpillay,
Visit your bank branch in India where you hold the NRO account. Inform the bank staff that you want to make an outward remittance to your Bank of Scotland account. They will provide you with the necessary forms to fill out. Complete the application form for outward remittance. You may need to provide supporting documents, which can vary depending on the amount and purpose of the remittance.
What is best choice to me to pay my daughter’s education fee in Australia; use my NRE account balance or get an education loan and pay. Can I use other bank FD for getting educational loan from Canara Bank.
Hi David,
The choice between using your NRE account balance or taking out an education loan depends on your specific financial situation and preferences. Here are some factors to consider for each option:
Using NRE Account Balance:
Pros:
1. No Interest.
2. No Debt.
Cons:
1. Opportunity Cost.
2. Depleting Savings.
Taking an Education Loan:
Pros:
1. Preserve Savings.
2. Tax Benefits.
3. Improve Credit Score.
Cons:
1. Interest Payments.
2. Monthly Repayments.
Some banks may accept an FD from another bank as collateral for an education loan. The FD would serve as security for the loan, and you would need to pledge it to obtain the loan.
Is it possible to send your settlement money to your country in someone account
Hi Roshan,
Sending your settlement money to your home country using someone else’s account, often referred to as a third-party transfer, can be possible, but it’s essential to be aware of the rules, regulations, and potential issues associated with such transfers.
Can I buy crypto from abroad, sell in India and repatriate all amount?
Hi Manish,
Buying cryptocurrency from abroad, selling it in India, and repatriating the proceeds is a complex financial transaction that may be subject to various regulatory and tax considerations.
How long it can take to tranfer 45 lakh from nri account to my account in Canada?
Hello Jay,
The time it takes to transfer 45 lakh from an NRI account to your account in Canada can vary depending on the banks involved, the transfer method chosen (e.g., wire transfer, online transfer), and any potential currency conversion requirements. Typically, it can take anywhere from a few business days to a couple of weeks for such a transfer to be completed.
Kindly guide for getting pension from saving acctt SBI Hisar to California Bank Acctt without visiting the SBI Hisar
We have Green Card here in usa. My Urgent request to you
Can banks transfer funds from NRE account to overseas company account
I am an NRI and have an account with Indian Bank. Can I repatriate my money from my Indian Bank account to my USA bank account online?
Hi Ramesh,
Yes, you can repatriate money from your Indian Bank account to your USA bank account.
Needed service with regards to 15CA/CB
Can I send money from my NRE account to my children in the UK?
Hi Vishnu,
Yes, as an NRI, you can send money from your NRE account to your children in the UK or any other overseas destination.
I am NRI with OCI. I wish to transfer 2.5 lakhs Indian money from my NRO account to my Singapore account. What is the procedure?
Need to transfer funds to.dubai to a current business account for an investment purpose
How much can be transferred to USA
How much fund Transfer to usa in son Account
Once money is in NRE account -does one still need 15CA and 15CB forms when one tries to send money to another country?
Also, how does DTAA work? If one moves money to another currency, is that info then reported to the country where one is tax resident?
I can see your pricing plans are specifically for NRIs either from USA or ex-USA or Business Owners..so, do you consider NRIs elsewhere (GCC, Far East) of no significance??? In that case, you should rename your solution to RetMint-USA!
Myself i am going for higher studies at USA, can i pay the fees for next year from my Indian account
I have an nro account and i want my money to be transferredd in europe. i am a foreingner
Is it possible to do outward remittance while NRI is staying abroad?
My daughter is an NRI working in Australia. I am in india and want to gift her some 25 lakhs to her. What is the best way to avoid TCS ? I am retired person and my earnings are fully tax paid.
How can I transfer money through my parents from India to the USA as a gift
Thanks
How much money can i transfer through money exchange to my nre account in india from dubai
Hey Rajan,
There is no specific limit on the amount you can transfer from Dubai to your NRE account in India. However, any inward remittance above a certain threshold might require you to provide source of funds documentation to comply with anti-money laundering regulations
I heard about the recent rate hikes in outward remittance tax. I’m an NRI in Ireland. I would like to know how I can save on tax while I do outward remittance from India.
Hello Ranjith,
First Check if there’s a DTAA between India and Ireland that can provide tax benefits on remittances. After that Utilize the permissible gift and inheritance provisions to transfer funds, as these might have different tax implications.And Plan remittances in a tax-efficient manner, considering any changes in tax rates or regulations.
I am an OCI and wish to open an account in India. And be able to transfer money to the US. What type of account should I open – NRO or NRE?
Hey Lazarus,
For an OCI (Overseas Citizen of India) looking to transfer money to the US, opening an NRE (Non-Resident External) account is generally recommended. An NRE account allows you to hold and manage your foreign earnings in India in a freely repatriable form, which means you can transfer the funds back to the US or any other foreign account without any restrictions. NRO (Non-Resident Ordinary) accounts are typically used for income earned in India and have some restrictions on repatriation.
Hi Shalini,
First of all thank you for the reply. I am fully aware of the difference between the NRE and NRO accounts. Since I only need to repatriate earnings in India to the US and hence the need for an NRO account and not the NRE account. Since I will not be holding and managing foreign earnings in India I would not need the NRE account. Thanks again.
I have another question if you don’t mind. Which bank is best where an NRO can be opened. I see from online google posts banks such as HDFC, SBI, Axis, ICICI. I would like to open online internet banking rather than in-person. Thanks
I find ICICI has a much sturdy internet access.
I want to open bank account but i am Nepali
Internet articles and blogs regarding outward remittance using Forms 15CA and 15CB give the impression that it is so easy. However, my experience with Axis Bank and Bank of Baroda is that, it’s almost impossible. Are there any NRI-help organizations that can deal with banks in Mumbai on our behalf?
Hello Geekay,
Yes, there are NRI assistance services and consultants that can help facilitate the process of outward remittance and dealing with banks like Axis Bank and Bank of Baroda in Mumbai. They can assist you with navigating the complex paperwork and requirements for Forms 15CA and 15CB. These services can be particularly helpful if you’re facing challenges with the process. It’s advisable to research and choose a reputable service provider to ensure a smooth experience.
just open ICICI account-it has an easy way to move money from NRO to NRE once you have all docs available (source of funds , will/gift docs , sale deed if from sale of property etc)
Wants to transfer axis bank Ahmadabad branch no 3 nre fixed deposits about 50 lacs to canada td bank in Canadaian dollars. How much time ? Your charges?
Hey Patel Jayantilal,
The time for the transfer depends on factors like processing times and verification. Wise (now Wise) usually takes 1-4 working days. Charges vary based on the amount and currencies. For a rough estimate, fees could be around 0.5-1% of the transfer amount. Check Wise’s website for precise details. Always verify with both banks for specific requirements.
Can we use wise money transfer to repatriate money from NRE account
Hey Mgeoms,
Yes, you can use Wise (formerly known as TransferWise) to repatriate money from an NRE (Non-Resident External) account.
I have my rental income in rupees in my NRO account and I would like to repatriate it to Germany where I live now.
Hey Jay,
For that start from converting the rupees into euros using a reputable foreign exchange service or your bank.
Transfer the converted euros from your NRO account to your German bank account using an international wire transfer or a cross-border payment service.
I am in a similar situation. Could you suggest one “using an international wire transfer or a cross-border payment service”
How to send money from NRE to foreign account of my son
Hello Pitchandi,
Initiate an international wire transfer or use a cross-border payment service to transfer the desired amount from your NRE account to your son’s foreign bank account. Ensure you provide the necessary information, such as your son’s account details and any required documentation, as per the bank’s requirements for the transfer.
I want to send money to Canada in my wife’s account …I have Nre and Nro account. Which account will be better to send money abroad
Hey Babaism,
For sending money to Canada in your wife’s account, it would be more appropriate to use your NRE (Non-Residential External) account.
I am a NRI I want to transfer Rs.75000 worth to USA in Dollors
Hey R Sarawathan,
You have to use online banking service provide by your bank. Log in to your account, select the international transfer option, enter the recipient’s US bank account details, and specify the amount to be transferred in dollars. Follow the instructions to complete the transfer.
There is no such option. Neither it as easy as you described. There is a host of documentation needed.
How can I transfer amount nri account to other account
Hey Karan,
Just simply goes to online banking platforms or mobile banking apps provided by your bank. And log in select the desired transfer option, enter the recipient’s account details, and specify the amount to be transferred.
I need to move my money from SBI NRO account to my bank in USA
Hello Rajeev,
You can use SBI’s NRI services. Fill out the necessary remittance forms, provide your USA bank account details, and submit the form to SBI for processing the international wire transfer.
Where to find folio number to make user ID for demat account?
Hey Jay,
if you already have an existing demat accounts or mutual funds investment , check your statements or transaction history .The folio number usually mentioned on these statements.
How much amount we need to file for 15ca in dollars
hey swati,
if your are going to payment more than 6050(around) dollars (US). you well need to file 15ca.
Is it per year or one transaction
Can I transfer money from NRO accounts to USA account if the money from LIC loan?
hello,
Srinivasan, yes you can transfer money from NRO account to USA accounts. But there are certain regulation you need to follow , like purpose of managing your income earned in India , you have to provide some kind of documents , you have to consider tax also.
When bringing money back to country of residence via NRE account, should I have to pay 20% charge
Hello,
Vishnu, to get information regarding fees and transfer charges you have to ask direct to your bank or financial institution. Because banking policies can change over time.
I having savings in india which i want to repatriate to australia.. whats the process to do so?
Hello James,
First of all you have to change you NRO account to NRE account after that you have to take advise from CA for 15CA.
I had some court case whereas the money was given to the builder in 2013 took him to court last year tge court decided to settle the case I got money about 50 lacs so how can I repatriate from India to Foreign country where I decided to live with my kids abroad
My sister staying in Ireland has a nro account with union Bank of india ….what are the charges and procedure for transferring fund from nro account to her ireland bank account
Hey Jaymon,
To get information regarding charges you have to go to your bank because charges get change over time.
I have NRO account and I need to repatriate transfer INR to my overseas account
Hey Sanjay,
first of all you have to change your NRO accounts to NRE account and for that consider to your CA.
Whether she can sell the shares acquired in 1995/96 by remitting funds in US$ and repatriate funds. Tax implications
Hey Ajit ,
yes you can sell shares, but you should consider capital gain tax in India, and tax treaty between India and US.
My Sister in law is an US citizen holding US passport. She has subscribed to shares in an Indian Company by remitting US $ in 1996-96. She has no intention of coming back to India. She wants to dispose off the shares and repatriate the funds back to US. She has recently in India after a gap of over 12 years. For opening DEMAT Account she has got her PAN Card and AADHAAR Card. Whether she can now sell the shares and repatriate the funds. What are the tax implications
How can I transfer money from India to Australia
Hi Prakash,
You can transfer money from your Indian bank account to your Australian bank account through wire transfer. You can use online money transfer services like TransferWise, Xoom, or Remit2India to transfer money from India to Australia. These services offer competitive exchange rates and low fees. You can also get a Foreign Currency Demand Draft (FCDD) issued by your Indian bank in Australian Dollars and send it to your Australian bank for credit to your account.
Do I need form 15CA/15CB for outward repatriation of NRE FD funds?
Hi Prashant,
Yes, you need Form 15CA and 15CB for the outward repatriation of NRE FD funds. As per the RBI guidelines, any remittance outside India exceeding INR 5 lakhs requires Form 15CA and 15CB. This includes the repatriation of NRE FD funds. However, if the amount is less than INR 5 lakhs, you can self-declare the remittance through Form 15CA.
I would like to money transffer from my NRE account to abroad
in respect of following from your artical “….To help them use it effectively, the Reserve Bank of India (RBI) allows an amount of up to USD 1 million per financial year from the NRO account to the NRE account. The limit includes the payment of applicable taxes….”
Question -I am US citizan , sold a property paid TDS and got thebalance fund in my NRO account, How much fund can I tansfer to my account in USA, up to US$250,000 or $ US1,000,000 within six months?
My child is transferred to another country from India recently ,what happens to the invested Mutual funds ?
I have NRO account, and we got money from the sale of land after our parents death, what is the best wat to repatriate money to our account overseas
I live in Canada and want to transfer the money from my NRO a/c in India to Canada.How I can transfer the money?
I am residing in Australia with Indian passport. I am planning to sell a property in India and remit this amount to Australia. The buyer is going to deposit the money in Indian Resident savings account (belonging to my parents). The plan is to transfer this amount from this savings account to my NRO account (online transfer) and remit. Once the money is in NRO account, can I remit this directly or should I be transferring first from NRO to NRE and then remit? Is there tax implication if I transfer directly from NRO account? Is there anything else that I need to be aware of. Appreciate any insights.
Hello Kiran
-As an Indian citizen, if you sell a property in India, you would be subject to Indian income tax on any gain realized from the sale. The tax rate and the applicable deductions may vary depending on various factors, such as the duration of holding the property, cost of acquisition, cost of improvement, etc.
-The NRO account can be used to receive income in India, such as rent, dividends, and sale proceeds of assets, and the balance in the account is non-repatriable i.e., it cannot be freely transferred abroad. However, you can remit up to USD 1 million per financial year from your NRO account, subject to the payment of applicable taxes and submission of the required documentation to the authorized dealer bank.
-On the other hand, the NRE account can be used to park funds that are freely repatriable, i.e., they can be transferred abroad without any restrictions.
-As for your specific question, you may remit the funds directly from your NRO account to your Australian bank account, subject to the above-mentioned limit and conditions. However, there may be tax implications depending on the applicable tax laws in India and Australia, and you may need to consult a tax professional to understand the tax implications.
Hi Kiran,
You should consult with CA.
I live in the USA and would like to send money to my family in India for a short period of time. In six months I would like to bring the same amount back to the USA. Is it possible to do so? Are there any tax implications?
Hello Jay
Yes, it is possible to send money to India from the USA and bring it back to the USA after six months. However, you may need to consider a few things before doing so.
Depending on the amount of money involved and the duration of the transfer, there may be tax implications in both countries. For instance, if you send money to India and it earns interest, you may need to pay tax on the interest income in India. Similarly, if you bring the money back to the USA after six months, you may need to report the transaction on your US tax return and pay any applicable taxes.
Hi Jay,
Yes, you can subject to the amount and family member you are transferring the amount.
We are non residents Indian having nro account in India can we transfer Rs 700000/ each in one financial year
Hello Karan
As Non-Resident Indians (NRIs) holding an NRO account in India, you are allowed to transfer up to USD 1 million (or its equivalent in other currencies) per financial year from your NRO account, subject to certain conditions.
I would like to transfer funds out of India without paying any fees
Hi Tuhin
It’s unlikely that you will be able to transfer funds out of India without paying any fees. Most banks and financial institutions charge fees for international money transfers, which may include processing fees, conversion fees, and transfer fees.
However, some banks and financial institutions may offer promotions or special offers that allow you to make international money transfers at a reduced fee or no fee.
Alternatively, you can explore using online money transfer services such as PayPal or TransferWise, which may offer competitive exchange rates and lower transfer fees compared to traditional banks.
Money transfer from india to the uk
How to remit NRO account amount from India to Australia in AUD?
Hello Keyur
To remit money from your NRO account in India to Australia in AUD, you can follow these steps:
1.Obtain an Account Statement
2.Convert INR to AUD
3.Choose a remittance service
4.Provide details
5.Initiate Transfer
6.Recieve Funds
Before initiating the transfer, it’s important to ensure that you comply with all the applicable regulations and guidelines for international money transfers, including the Liberalized Remittance Scheme (LRS) guidelines set by the Reserve Bank of India (RBI).
Good morning Is there any tax for money transfer from NRE account to outside India
Hello aneesh
No, there is no tax levied on transferring money from an NRE (Non-Resident External) account to a foreign bank account. The funds in an NRE account are freely repatriable, which means they can be transferred outside India without any restrictions or taxes.
There may be different Excahnge rate for Inward transfer and Outward transfer
can i transfer fund from my indian saving account to Canada bank account
I sold my inherited property in India, but I do not have any account in Indian bank, can I take cheque to any bank for e-transfer to my account in Canada?
Hello Sarabjeet
Yes, you can take the cheque for the sale of your inherited property to any bank in India and request them to transfer the funds to your bank account in Canada.
It is advisable to consult with a tax expert or a chartered accountant to understand the tax implications of the sale of your inherited property in India and to ensure that you comply with Indian tax laws.
It is advisable to consult with a tax expert or a chartered accountant to understand the tax implications of the sale of your inherited property in India and to ensure that you comply with Indian tax laws.
I am Indian citizen living here in Australia with my son for about three years and want to repatriate some rupees to Australia
I cannot download the 15cb form cannot find it
Hi Ammo,
You should talk to your CA
How to transfer money from india hdfc bank to usa using debit card
Hi Jameela,
You can do the same from HDFC mobile app.
need support to move funds from india to uk
Hi Ranjith,
You should take an advice from your CA
If I earn money out of Life insurance policy in India & want to transfer it to US, will it be possible to do so from NRE account
Hi Shahnawaz,
Yes, it is possible to transfer money from an NRE (Non-Resident External) account in India to a bank account in the United States. NRE accounts are specifically designed for non-resident Indians (NRIs) to hold and manage their foreign income in India. The funds held in an NRE account are freely repatriable, meaning you can transfer them to a foreign account without any restrictions. However, you will need to ensure that your NRE account is linked to an Indian bank account and the bank account in the United States is in your name.
My father in law expired in India, my husband wanted to transfer the money given to my husband which is lying in the bank. Does he have to go to India or can he do a direct transfer?
Hi Melania,
It is possible for your husband to make a direct transfer of the money from the bank account in India to his own account, but it may depend on the specific bank and the regulations in place for transferring funds from a deceased person’s account. It would be best for your husband to contact the bank where the money is currently held and inquire about the process for transferring the funds. The bank may require certain documentation, such as a death certificate or a letter of administration, to verify that your husband is the legal heir to the funds.
Thank you Suresh, for your kind help. Appreciate it.
Thank you Suresh.
best exchange rate for remitting money out of India
Hi Karan,
It’s really impossible to know the best exchange rate. You can check the rates as per your convenient for remitting.
I am residing in Australia. I have money from my savings in India. How best can I transfer the amount > 7 lakhs INR without paying Tax collected at source of 5%
Please consult your tax consultant.
My daughter resides in Luxembourg since July 2019. Has property here in India n derives rents. Such rents are deposited in a savings bank account which she maintained while in India. She wants to sell her flat now. I am GPA holder. What is the process to take this amount abroad.
Repatriation of sale of inherited property
Hi I want to repatriate money from my NRO account. Next year my PPF matures, and that amount will be again going to my NRO account and I want to repatriate that too. I want to know the tax liability in UK and India as I currently am a resident in UK but Indian passport holder
How should one plan to dispose / repatriate property of planning to move overseas
Can i transfer money from my nre account in india to my sister’s savings account in canada?
I want to know the limit or any fees and payments if any i would have to pay to transfer money from NRE account, the money if income initially in uk moved to india in NRE account that i want to bring back
I have a nro account in India and I am a foreign national .I need some funds to be transferred here at Canada from my nro account
Hi Deepti
First You need to transfer the funds from your NRO to NRE ac and then you can transfer the same from NRE to your foreign bank ac.
Can a Person send funds from his NRE account to his son’s overseas account?
Hi Rahul
Yes.
I want to transfer INR equivalent to Eur 6,000 to Spain but it says that I cannot transfer from NRO or NRE account
How can we move a monthly pension to Canada bank account?
India nre account funds transfer to dubai
Hi Ashok,
Yes, you can do the same online.
What is the function of the FBD department at BOI. My documents for Outward remittance has been forwarded to BOI’s FBD department 2 weeks ago and have not heard anything back.
How can we transfer. The NRI money in dollars from India to usa
Hi Jay,
First, Money should be deposited in a USA person’s NRO A/c and then from NRO to NRE A/c, and then it can be transferred to Foreign A/c.
How to transfer money from NRO to NRE? As NRE only accepts foreign currency, so do we need to convert it to other currency and then do the transfer? It doesn’t make sense as then again if we want to send money from nre to foreign account then again we need to do the currency conversion. It seems very odd. Please reply
How much Indian government will take tax to transfer 6500000 from Mumbai Maharashtra to Canada (Please advise the percentage)
Hi Shadab,
Please consult your tax consultant.
Hi Shadab,
As per my knoeledge, Foreign remittance made above Rs 7 lakh will attract a tax-collected-at source (TCS) @ 5% unless the tax has already been deducted at source (TDS) on that amount.
Under which purpose code NRI can repatriate money from NRO saving account to be filled in 15CA?
Hi Kulwant Ji,
Yes Sir
is 15 ca/cb not available on portal right now ?
Hi Alka,
No
want to transfer money abroad in self account for investment in real estate
Hi Seema,
You can transfer your money into your NRO/NRO A/c, and proceed with the investments.
If sell of mutual fund in India is repatriation of fund or Outward remittance
Hi Pavan
It will depend on by which account you have invested in Mutual Fund
My PPF account matures this year 2022. I want to put the amount in my NRO account and repatriate some amount to my overseas resident country. I do not have NRE, can I still do an outward remittance through NRO, what is the procedure?also my parents sold a property and have paid the gift tax, how do I avoid double taxation and how can I repatriate the amount to my resident country. Thanks
Hi Jocelyne,
Try to consult a CA for better understanding
My PPF account matures this year 2022. I want to put the amount in my NRO account and repatriate some amount to my overseas resident country. I don’t have NRE, can I still do an outward remittance thro’ NRO, what is the procedure?
also my parents sold a property and have paid the gift tax, how do I avoid double taxation and how can I repatriate the amount to my resident country. Thanks
Hi JD
Try to consult a CA for better understanding
The N R I person is now in India and his bank account is another than me and I want to withdrAw money from his accont from .my account
Hi Shaji,
To transfer the funds from his account to your account, you just ask him to transfer funds from his NRE A/c to NRO A/c then from NRO A/c the money can be transferred to your A/c
Can I transfer from nro account through western union
Hi Mohammad,
Yes, there are certain restrictions. Please consult your CA before doing the transfer.
Currently my status is NRI, i am regularly transferring money to my local bank savings account. Wanted to know the amount which i had transferred is it taxable ?
Hi Omkar,
No Tax will be levied.
for outward remittance of pension funds from NRO account what are the documents required?
Hi Indira,
In order to remit funds from the NRO account, you would need to submit two documents: Form 15 CA and Form 15 CB.
Transfer of funds from own nre account in India to own account in usa i.e. repatriation through money exchange services instead of bank to bank . Is it allowed as per rules
yes
I would lime send 25 lacs from india to dubai
I would like to transfer money from india to uk how is possible please let me know thanks
Hi George,
First, Money should be deposited in UK person’s NRO A/c and then from NRO to NRE A/c, and then it can be transferred to Foreign A/c.
1. if you have relatives they can use exchange services like westren union/extravel/instrem and send you for various reasons
2. If you wish to transfer your self, then money should be in your own NRO first then submit form 15 and then transfer to NRE. banks will take your transfer request to remit money in your UK account.(but poor exchange rate).
3. Try to find known people in UK ask them to exchange money INR to GBP vice versa.
I want to tranfer to USD from my indian NRE accoiut
Hi Ismail Ji,
Yes you can do so.
Repatriating funds overseas from your Non Resident External in any convertible currency can be done directly by the bank without any additional requirements.
but we will get poor exchange rate
I transferred money from UK to India in my NRO account to buy a house. How can I get it back freely when I sell the house
Hi SP,
You need to complete certain formalities for transferring the amount. Consult your CA
My parenrs have money in an nri account in india in fixed gics and want to have the money transferred to canada.. what are the tax implications of this? And how can we get it transfered?
Can I transfer 50 Crore from my nre account to USA
Hi Lavina,
No you cant.
If you are an NRI/OCI, you can repatriate only up to USD 1 million per financial year.
Redrow fun from India account
I want to transfer money to a UK bank account
Hi Siddharth,
You can transfer from NRE to US bank account
can i transfer money out of India when I’m not in India?
Hi Ellie,
Yes, You can.
incomplete info
if you don’t have money in NRE, it is not possible
If i repatriate 1 cr from NRE to dubai how much shall i recieve at dubai end based on current forex value – Tax
Hi Jackson,
Kindly consult with your CA.
I have a NRO account and would like to repatriate all the money to Canada, do you offer services in providing such help
Hi Genevy,
We do not provide such services.
But for repatriation, you first need to transfer the funds from the NRO account to the NRE account and then from the NRE account to a Foreign bank.
I want to repatriate funds from India to my USA bank. What are the documents required by the bank for this purpose
Hi Karan,
Document requirements by banks are different for each bank.
Kindly consult with your bank.
My aunt is 80 years old and getting a pension from the Indian company she worked for after retiring and moving to Australia as a permanent resident. Her Indian pension gets deposited into a savings account in India. How can she transfer money from this Indian bank account to her Australian bank account?
Hi Aurelius,
She needs to convert her resident saving account into NRO Account and then she needs to transfer this amount from NRO to NRE Account, then she can transfer this amount to her Australian Bank Account.
I am nri I want to transfer my pension money from india to usa
Hi Sikkaj,
You need to convert your resident savings account into NRO account and then you need to transfer this amount from NRO to NRE account, then you can transfer this amount to your USA Account.
Hi, I have NRENRO account in India and planning to transfer money from India to USA. Could you please let me know what is the best way to transfer the money?I am planning to transfer money in bulk.
Hi Aksh
If You want to transfer an amount of more than 5 Lakhs then you need to take advice from CA.
Transfer Money from NRO account to USA, have form 15CA and 15CB
Hi Mannem,
Yes, you will need both of these forms. Kindly consult with Your Tax consultant.
I have got a NRI fixed deposit in India.I need to transfer it to overseas.should I have PAN card number to transfer the amt?
Hi Susand,
Yes.
Hi Susand,
No.
How can I transfer NRO account money to pound sterling UK account
Hi Anil,
First, you will need to transfer money from NRO to NRE account then only money can be transferred to a foreign account.
Hi Anil,
First, you will have to transfer money from NRO to NRE Account and then from NRE Account to Foreign Bank Account.
If the funds of an NRI are in fcnr deposit and if he has to repatriate does he have to fill any form in the bank. He is not purchasing any currency just his matured fcnr deposit wants to take it our.
Hi Vinita,
It can only be get done through your bank.
I have an NRO account in India and would like to transfer the amount to USA. Does your company provide that service
Hi Vithal,
No.
I am NRI staying in canada, my son wants to study in australia. I have NRO account in India and money in NRO a/c that is already taxed. can i transfer the same
Hi Rajashekhar,
Yes.
How can i send cash to canada
Interac e-Transfer is an easy way to send money to friends, family, or businesses within Canada. Transfers are easy to do.
Hi How are you
My mother is 87 years old and is a Permanent Resident of Canada ( she is still and Indian Citizen ) she has an NRO Account in India. Can she do online transfer from her bank to her Canadian bank account.
Thank you in advance for your response
Hello, I am transferring money from my NRO A/C to my account in foreign country(Dubai). Do i need to deduct TCS ? and which part of 15CA should i file in case TCS Is not deducted.
Hi Yugansh,
Please consult Your CA.
how to remit funds from NRE accounts to overseas account ?
Hi John,
You can remit funds through Net Banking.
Hi Shreya, not sure about your answer.
I contacted my bank RBL bank, they don’t have a process online, they’ve asked me to fill A2 LRS form and there’s no option to do this through netbanking which allows only accounts with IFSC codes, not overseas accounts.
If my dad wants to send me a cash gift in Australia, can he repatriate from his account straight? He is an Indian while I’m an Australian citizen.
Hi Sangita,
yes your dad can repatriate straight from his account.
I like to transfer funds from my NRE account in India to US. How do I do that
Hi Abhishek,
you can easily transfer your NRE account in India to US by using online net banking.
in 2012 i bought a property when i was in india. now i am an NRI, now i am thinking to sell it , and there is no captial gains , should i still fill 15CA and 15CB forms ?
Hi Vijayananda,
You need to fill the form for transferring the money from India to Abroad if you want to transfer the sale of the cash amount received from the property.
I am selling property in India, i am Pr of Canada, can i bring money to Canada, will i need to psy tax, how much%
Hi Shaikh,
I think it’s better if you consult about this with your CA for a better understanding.
I am a NRI and have been investing in funds (other than house) in India over 8 years. Now if i plan to buy a property overseas can i bring in some of the invested funds ? What is the tax applicable on the funds in India ? will it be taxed again in the foreign country despite DTAA ?
Hi,
It depends upon what type of investments you have is it equity or debt. As per my knowledge, it will not be taxable in a foreign country if you already paid tax on it in India.
Can NRIs transfer loan against property funds to abroad?
Hi Sirisha,
As per my knowledge no you can’t.
For transfer money from NRO to overseas needs 15 cA and 15 cb. How to get 15 CB
Hii Koliwad
You should consult your C.A.
how to transfer rupees from our bank balance in India to USA and what is the limit of one time transfer
Hii Mr. Amarsingh
As far as I know the NRI has to fill up and submit Form 15CA Format (online application form) and Form 15CB (Chartered Accountant Application) to the bank branch to transfer money from India to a foreign country.
And the limit is USD 1 million per financial year from the NRO account to the NRE account.
On the Form A2, for repatriation of inheritance, what is the correct purpose code to be used?
Hi Rohit
Purpose. Code. Description. 00. Capital Account .P0001.
I am selling my property in India which was purchased as Indian citizen in 2016 & now I am selling it as nri(moved to canada in july 2020), do i need to have an nro account to make the transaction or can i do it in my savings account?
Hii Mr. Raman
It is illegal for an NRI to have a resident saving account.
An NRI has to open either a NRO or NRE account to make transactions
We are senior citizens moving to the USA as we are getting a green cards. How can i transfer my asset sale prices and term deposit?
Hii Mr. Jay
As per my knowledge it will be suitable to open an NRE account for transactions
How can money be transfered abroad from India via NRO account? is there some easier way like online or demand draft. There is no relatives residing in India and the whole earning is from inereest.
Hii Mr. Nikhil
The NRI has to fill up and submit Form 15CA Format (online application form) and Form 15CB (Chartered Accountant Application) to the bank branch to transfer money from India to a foreign country.The Reserve Bank of India (RBI) allows an amount of up to USD 1 million per financial year from the NRO account to the NRE account.
Can i make online transfer canada university fees for my son from my nri account
Hii Sapna Ji
As far as I know you can transfer fees from your NRI account
I have sold my plot which was gift from my father. Money is in NRO account in IDBI bank . I want to transfer to uk . How much tax and what is right course of action to transfer money …….
Hii Humera Ji
As far as I know the Reserve Bank of India (RBI) allows transfer of amount up to USD 1 million per financial year from the NRO account to the NRE account.
Regarding taxes which may be applicable it is better to concern a tax consultant.
For transfer of money you can contact your respective bank.
I want to know new rule of remittance from NRO account to send fund from India to USA
Hi Sarbajit,
In order to transfer the funds from NRO you need to submit two documents- FORM 15 CA and FORM CB and the limit is USD 1 Million. Better consult a CA for it.
I can get some mount rupee money from a close relative in india. How do bring it to usa?
Hi Hina,
It depends on how much money you have received if it is a small amount you can bring it through an NRE account.
Hii ,after death of main applicant ,how maney will transfer to nominee who is outside india?
Hi Varun,
It is depending on the due diligence of the investment.
Some forms and documents are required to process the request.
I recently moved out of India. I have some savings in a domestic Indian account. Al of my savings is from my income (tax already paid) earned in India while I was in India and some money I remitted to India years ago when I was working abroad (tax payed abroad) and the interest earned on those Savings. Will I have to pay this outward remittance tax even though I have already paid tax on all of my money?
Thanks, Sushil
Hi Sushil,
As per my knowledge you don’t need to pay tax on it.
Thank you Jiyan!
I regularly send funds to my NRE account from my RBC account for earning interest through fixed deposits. If I repatriate these funds back to my Canadian bank account, do I have to pay taxes on the repatriated funds in Canada?
Hi Arijit,
As per my knowledge yes you have to pay tax.
But for a better understanding consult a CA.
Need to transfer cumulative current income (pension + rental + interest) for the last 10 years from NRO to NRE A/c
Hi Srini,
It all depends upon the amount as there is a certain limit in the NRO account.
i am nri settled in canada .Can i c tr funds to my account in abroad from NRO account
Hi Rahul
Yes, you can do so.
I am UK resident looking to send money from Indian NRO account to my UK bank account. Is there a feasible option for me?
Hi Mangesh
You can transfer it via following the pre-defined process.
The simpler way is to transfer to NRE and then to UK.
I want to withdraw money from adcb bank to Karnataka bank by cheque
I am a NRI and I want to remit funds abroad from India. is my physical presence required in India?
Hi Sumit
Usually it does but you can contact your Bank RM and CA if they can help you during this time.
NRI loans
I just want to know that , I have sold one property in India for around 50 lakhs. And I have paid TDS and other taxes in India on the sale of property.Now I want to transfer that money from India to Canada via bank transfer.Will I have to pay any taxes to Canadian government also on the same?
Once an Indian becomes NRI, is there any condition by Government of India if he invest, repatriated money from India, into JV/WOS Foreign entity abroad?
Hi Rajesh
I guess No, because if you have paid tax on that then there should be no problem where ever you invest.
I just want to know that , I have sold one property in India for around 50 lakhs.
And I have paid TDS and other taxes in India on the sale of property.
Now I want to transfer that money from India to Canada via bank transfer.
Will I have to pay any taxes to Canadian government also on the same?
Hi Harman
As per my knowledge, you don’t need to because you have already paid tax in India. For better clarification please consult a tax expert in Canada about the tax on money received from another country.
Hi, I am in Canada with my wife for last 3 years and I still have a resident account in India. Can I transfer money to my wife account in Canada from my resident India account?
Hi Bani
No, you can’t. Firstly change the SB account to NRO and then transfer it to other account.
As an NRI, you are not allowed to keep the SB account.
Referring to article “Outward Remittance”, if I send money from my NRO to NRE account, is Form 15CA still required ?
Hi Soumya
Yes it would be required.
What are the rules around transferring inheritance money from India to the US, upon death of a parent?
Hi Radhika
You need to complete the following forms and contact a CA in India for this. Once you do so, you can transfer upto 1 Million USD per Financial Year.
Forms:
1. A2
2. 15ca
3. 15cb
how much money we can transfer from Indian NRE account to Canadian bank?
Hi Raj
As per my knowledge, there is no prescribed limit for this.
I am a UAE residing Indian. TCS is applicable for international fund transfer from NRE account to CIBC bank??
Hi Prabhath
As per my knowledge, it will not be charged.
I have an NRE account with HDFC bank in India and my wife is working in Canada and she has a bank acount there in Canada. Now i want to transfer money from my NRE account to my wife acount in canada. But last time i asked bank they said its not possible. what is the solution?
Hi Felix
As per my study, you can transfer fro your NRE account to your Overseas account only via HDFC.
Alternatively you can try wire transfer it its works or transfer money to her NRE account and then she can transfer.
Can i send money to canada from nro account thru western union?
Hi Jones
Yes, you can but you are required to follow the process prescribed.
Recently i am selling an agricultural land in Odisha. I am an NRI from Australia. I want to convert the money into dollars and send it to Australia? Please advise
Hi Ajit
You need to file form A2, 15CA & 15CB and then you can transfer it to Australia.
I have a NRE account with Bank of India in New Delhi with a balance of Rs. 17 lakh in my saving account. I want to transfer it to my bank in Canada. What is the procedure?
Hi Ajit
As per my knowledge you can directly transfer it through Western Union or any other way, also direct transfer would also work.
I am a USA-born Indian who has an NRO acct in India. I am selling inherited farm land to an Indian National. What forms do I need to submit to repatriot my funds to USA.
Hi Shami
You need to submit Form 15CA, 15CB & A2.
How can I transfer my funds to abroad from an NRO account easily?
Hi Sanjay
You need to follow a certain process prescribed by the FEMA & IT department.
You can contact a good CA in India for this.
I am NRI and have sold my Property in Mumbai paid LTDS. to transfer funds from my NRO account, Bank is asking to get some forms 15 CA or CB?
Hi Prakash
Yes as the money might be lying in NRO account thus to transfer it from there these forms are required.
How can an NRI HUF Transfer FUNDS to USA any specific Circular / provisions of FEMA / RBI ??
I have an NRO account in SBI Bank. Can I transfer money from NRO account?
Hi Mark
Yes, you can transfer the money.
I want to bring money which is a gift from my brother in India to a UK account. I have NRE, NRO account in India. Could you please explain the process?
Hi Sachin
If the money is in your NRE account then you can directly transfer it or if it is in NRO account then Form A2, 15CA & 15CB form will be required.
You can contact a good CA in India for smooth process.
how to generate Form 15CA for submission with Form A 2?
Hi Jogindar
You can download it from the Income Tax website by login using your credentials
An OCI cardholders operates NRO account and his son, who is a nominee, is also an OCI cardholder and has an NRO account.If the account holder dies, the nominee can get the funds transferred to his NRO account.As per rules, the nominee can repatriate the funds to his account subject to RBI guidelines
Hi Narinder
Yes the money can be repatriate upto 1 Million USD per Financial Year by following certain procedure.
I live in Canada as a PR. The last time when I visited Kashmir my home town I sold my wedding jewelry for 20 lakes and deposited that money in my mother in law’s account. Now I asked my brother who lives in Jammu and Kashmir India to send me that money. What is the procedure please tell me in detail?
While Converting funds from NRO to NRE 15ca and 15cb is not required for most NRIs. Why do Banks still need it?
Hi Rahul
As per my knowledge, yes these forms are required along with the A2 form.
Hello Sir, I am a nri and have inherited agricultural land and now it is in my name in India. I want to sell the land and transfer money to US. Do I have to pay taxes on agriculture land sale proceed in India before transferring to US. If yes what percentage.
Hi
As per my knowledge, the capital gain is exempt from tax.
I have inherited money as a nominee in India how do I bring it to the USA.
Hi Mohammad
You need to fulfill the guild lines set by the RBI and FEMA and follow the common procedure for filing form A2, 15ca & 15cb to bring it back to US.
I am a resident of the UK holding a British Passport for the last 3 yrs.I have an NRO n NRE account in India. Before coming.to the UK. I was an Indian Army Officer..Now my pension and other FDs interest are being credited to the NRO account…I want to transfer some amount at the UK for my personal requirements / maint…kindly advise procedure/ how to repatriate funds and documents required for this purpose.
I have an NRI account in India and want to transfer the money from that to my US bank account. How can I do that?
I got Migrated to the UK from India and now holding British Passport. I am operating NRO and NRE acct in India where my Indian pension and other FDs interest are being credited. Filing IT returns in India regularly. Now want to repatriate funds for my use, Advise procedure.
Hi Ashok
You need to contact your banker who will give you the Form A2 and then your also required to fill Form 15ca & 15cb which is declaration by self and by the CA that the money is legal and tax has already been paid on that.
You need to submit this with your banker and can transfer the money.
I would like to know if repatriation from the NRE account can be done by other means than wire transfer? Like money agents Transferwise, Instarem? Thanking you in advance.
Hi, The article mentions that repatriation is permissible up to maximum of two residential properties only. Is this limit per tax year? Is this per family? (or) per person? Is empty land considered as a residential property? If an NRI has more than 2 residential properties (either empty land or house/apartment), is there a way to sell all properties and repatriate? Thank you.
Hi Arun
As per my knowledge it is per Tax Year. Empty land is not considered as residential property.
Hi Hemant,
This is extremely helpful information for us NRIs. We’re trying to find some CA who can help with Form 15 CB repatriation of funds from NRO accounts where taxes are already paid in regular IT payments. Do you have some suggestions for reputed CA services of Form 15CB who provide such services online.
Thanks!
I do not permanently reside in a foreign country. Is it require my Indian origin bank account into NRO /NRE?
Hi Patel Ji
As per Law it is required to change the bank accounts into NRE/NRO.
If NRI transfers money from Indian savings account to his wife in the USA then is form 15CB or form 15 CA is required?
How much tax do I need to pay to transfer fun from my NRE account to Europe?
Hi Jaimon
As per my knowledge there would be a 5% TCS would be charged.
how to repatriate money from India?
Hi Sandesh
If you have to transfer money from NRO to NRE account then you would require 15ca and 15cb form duly signed by the CA.
If I wish to transfer from my NRE account to my own foreign account, do I need to submit Form 15CA or 15CB?
Hi Ujju
In this case the required forms are not needed.
Can I repatriate money from the sale of property in India to the US that was acquired while I was in India through rupee funds? I am now NRI. What are tax implications, since I made a loss on the transaction and already filed taxes?
Hi Ashish
Yes you can repatriate. It is just you need to consult your CA for the 15ca and 15cb forms and then talk to your bank to proceed with the transactions.
How can I transfer the proceeds of my nro FDRs from India to Australia?
Hi Sukhdev
You can consult with your bank or go to western union.
If an NRI seeks remittance of his own money from his own NRO account, day Rs 10, lakhs gifted by his father, will the foreign tax be applicable?
Hi Sahil
As per my knowledge, no tax would on that but it is advisable to support your transaction with a Gift deed.
I want to transfer some USDs to India for the short term. What happens if I want to bring that money back to India? Do I have to pay tax/ some deduction to bring the money back?
Hi Chitra
Yes you have to pay tax on the gain (if earned) in India and also the currency conversion fees.
My dad(resident Indian) bought a flat in 2006 in India with me as a joint owner. All payment was made by him through his bank account. After he passed away, the flat was mutated in my name and I sold the flat with the proceed deposited to my NRO account after deduction of applicable tds. I obtained a low tax certificate from AO. Can I repatriate the sales proceed after giving for 15CA-part B certificate. Will this be considered under inherited property? I do have the mutation certificate.
Hi Rohit
As per my information this is not a inherited property as you were the joint owner of that.
How do I transfer funds from NRE account in India to Uk?
Hi Jacob
You can talk to your bank and they will provide you the way or you can do it through Western Union or Wire Transafer.
If I am sending my PF settlement from India to the UK, do I need to file form 15CA or 15CB?
Hi Suraj,
You should consult with your CA for this.
I have an NRI account in India. I want some withdrawal for university fees. Have I paid tax for that because I have been here for four years.
Hi Madhavi,
You don’t need to pay any tax.
I want to transfer my pension funds from India to uk account. Have a savings account in India. what is the most cost effective way to transfer funds?
Hi Ravi
You should consult with your CA or Bank for the procedure.
Hi Hemant:
If I am repatriating my PF disbursements from India to UK, do I need to fill 15CA or 15CB? Will PF settlement be considered as non-taxable?
Hi Suraj,
Yes you need to fill both the forms to send money abroad.
if I need to make an outward remittance to a firm in the USA, what forms do I need to fill?
Transfer funds from my NRE account in India to Canada. How does it work?
Hi Vinod,
Yes you can transfer funds from NRE account. You can do it through net banking.
When funds r transferred from my Indian sb NRE account to my account in the USA through net banking or bank branch is TCS. applicable? Do I have to pay any extra tax to the Indian govt?
Hi Haragopal,
No you don’t need to pay any extra tax for that.
Do I have to submit form 15ca and 15cb if transfer $1500 to Canada from my nro account?
Hi Amritpal,
Yes you need to submit both the forms.
I am NRI living in Dubai and planning for a joint venture in Canada. want to remit funds for that joint venture from the NRI account. What purpose I have to show?
Hi Shaik,
You should consult with a CA for this.
NRI want to remit funds from his NRI account into his joint venture new office account outside India. what would be the purpose code for this transaction.
Hi Sb Vali
You should consult with a CA for this.
How do I repatriate inherited money?
What about taxation under to LRS 2020 of RBI? Does an NRI have to pay 5% tax on outward/foreign remittance of his income from sale of property in India?
I don’t have CA in India. Who can I’ll out forms for me? Thanks and good information.
Hi Deven
You can Hire one CA as without that it would be not be possible.
Hi, Could anyone help me here?
I want to send money to my sister in Australia for her family maintenance. She is having NRE/NRO account in India. Do I need to transfer the money to her account in Australia through the wire or can I utilize her NRE/NRO account in India? Can I send it to her NRO account and she can transfer it to her Australian account? Which is the legal way and cost-effective way. Please help.
Thank you in advance for clarifying the following issue. I have NRO and NRE accounts. I understand that for the transfer of funds from NRO to NRE one needs to submit 15CA and 15 CB forms along with a FEMA declaration as to the source of the funds. Is it necessary for the account holder to personally come to India and sign all these forms in front of a bank officer ?
With the COVID Pandemic raging all over the world it is unreasonable to expect that the NRIs come to India to arrange for the transfer. Kindly advise . There wold be thousands of people in similar situation as mine !
I have regular savings account in SBI India. MY PPF is maturing in a short time. I NRI- Overseas citizen. How to transfer those amounts to the SBI overseas branch without vising India.
what taxes would I entail if I transfer part of my sale proceeds to my relative?
How do I transfer money from my NRI account to my US bank account?
We want to do repatriate from the NRE account to my account in Australia, what is the process?
Hi Gangadhar
You can consult with your bank or can approach for Wire Transfer, for taxation consultant you can talk to a Tax expert.
Is interest earned on NRE PIS account taxable?
Hi Visakan
Yes Dividend and interest is taxable.
how do I transfer money from Punjab national bank in India to Canada on regular basis from Canada.
Can I transfer USD from my US Bank account to someone’s NRO account in India?
Hi Abhishek
I think you can.
Can I transfer INR 5 lacs from NRO acct to the USA without any CA certificate?
Hi Ketan
No you can’t. CA Certification is required.
I am now an NRI. It happpened @ 6 years ago. I have a Property In which I have to sell.
I need to do a remittance from India to Canada about 30 lakh. Is it taxable?
Hi JJ
No, It will not be taxable but the interest earned on this money in Canada may be taxed.
Can NRI use a saving account for trading shares?
Hi Amit
Open a PIS account either with your NRE or NRO account for investments in Stocks.
NRI’s can’t hold normal Savings account.
I am NRI living in the USA I have nro acct and I want to transfer it to my foreign bank acct in the USA INR 60Lac. is it mandatory to get a 15 ca form from my auditor?
Hi Varadkutti
Yes, 15ca and 15cb both the forms will be required.
I have money in my nro account, “I am based in Dubai since 1993 and my current status is NRI, how I can transfer this money from my Nro Account To NRE account as the money which is in my Nro account is through the sale of share and dividend interest and life policy insurance policy which has matured in past, the total is not exceeding 15 lacs.
Hi Sunil
You can approach your bank and CA, need to fill 15ca and 15cb forms and submit in your bank and later they will remit the amount in your NRE account.
Will there be a tax imposed if an NRI transfers money to another ‘s resident account?