Why Financial Planning?

Planning is bringing the future into the present so that you can do something about it NOW.

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.

How can NRIs transfer funds Overseas from India
outward remittances from India?

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 –

Form 15CA

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.

Outward Remittance
Outward Remittance


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. 

Published on November 25, 2021

Hemant Beniwal

Hemant Beniwal is a CERTIFIED FINANCIAL PLANNER and his Company Ark Primary Advisors Pvt Ltd is registered as an Investment Adviser with SEBI. Hemant is also a member of the Financial Planning Association, U.S.A and registered as a life planner with Kinder Institute of Life Planning, U.S.A. He started his Financial Planning Practice in 2009 & is among the first generation of financial planners in India. He also authored Bestseller book "Financial Life Planning". 

  • 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.

    • 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,
      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.

  • 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

  • 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

  • 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

  • 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 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

    • 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 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

  • 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?

  • If i repatriate 1 cr from NRE to dubai how much shall i recieve at dubai end based on current forex value – Tax

  • 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

  • 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.

    • 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.

  • 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.

  • 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

    • 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 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.

  • 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 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.

    • 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.

  • 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

  • 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.

  • 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.

    • 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.

    • 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.

    • 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

  • 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?

  • Need to transfer cumulative current income (pension + rental + interest) for the last 10 years from NRO to NRE A/c

  • 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 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 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.
      1. A2
      2. 15ca
      3. 15cb

  • I am a UAE residing Indian. TCS is applicable for international fund transfer from NRE account to CIBC bank??

  • 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.

  • 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

  • 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 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.

  • 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.

  • 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?

  • 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 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 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 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.

  • If NRI transfers money from Indian savings account to his wife in the USA then is form 15CB or form 15 CA is required?

    • 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.

  • 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.

  • 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?

  • 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 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.

  • 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.

  • 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 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?

  • 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?

  • 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?

  • 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.

  • 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?

  • 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.

    • Hi Gangadhar

      You can consult with your bank or can approach for Wire Transfer, for taxation consultant you can talk to a Tax expert.

    • 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?

  • 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.

    • Hi Basil,

      Money is sent to the specific relative is exempt. Money send to the non relative above Rs 50000 will be taxable as per income slab.

  • I would like to transfer money from the NRO account to a US bank account. Given the current Covid situation, what are my options?

    • Hi Minakshi,

      An NRO account is a non-repatriable account, you can not transfer the amount to the US bank account. You have to transfer this amount in NRE account first and then you can transfer it to US bank account. You have to fill up and submit Form 15CA (online application form) and Form 15CB (Chartered Accountant Application) to the bank branch to transfer money from India to a foreign country.

  • I am a OCI card holder and lived in India until last month as a resident. Now I have moved back to Canada. I have money in India which I want to transfer to Canada. Can I do it ?

  • Is it necessary to submit forms 15ca & 15cb again when requesting for a full remittances from NRE a/c to a foreign a/c in Australia. These forms were submitted while selling a property in HYD and when the proceeds have been credited to NRO a/c after submission of these two forms.Then funds were transferred to Nre a/ c in the same bank. HDFC guy is asking for the for the forms submission again as per RBI guidelines.

  • I have a property for sale in Goa. I have to clear the loan against it 50 lacs and balance 50 lacs I want to repatriate to uk. I have nre and bro account . How much will I be taxed to get my money here in uk?

  • Further to my comment, I have noted that forms 15CA & 15CB are required as per RBI guidelines only for transfer of funds from NRO to NRE and no where it is specified for submission again for remittances from NRE to a foreign account. I do not know why HDFC Manager HYD is insisting o submission of forms 15CA & 15CB. Remittances from NRE to abroad should be a straight forward online transfer, but the guy says it should be channeled through Bank for total remittance and closure of the NRE A/c.

    Pls advise

    Thank you

  • My son has NRE A/c in HDFC Bank, Hyderabad. At the time of selling his property in HYD the proceeds have been credited to his NRO a/c and later it was repatriated to his NRE A/c in the same Bank after submitting Forms 15CA & 15CB.
    Now wish to close his NRE A/c and he want the total funds to be remitted to his Foreign A/c in Australia in AUD.
    HDFC Bank is asking for again 15CA & 15CB for remittance from his NRE A/c which is RBI guidelines. Is it required again, since they were submitted for repatriation from NRO to NRE. What is the procedure for total remittance of his NRE funds to his foreign A/c in Australia
    Your advice would be highly appreciated
    Thank you in advance

    DR Rao

    • Hi Dr Rao,

      As the money is transferring this time from NRE account to foreign account you have to submit these forms again.

      for the procedure you have to consult with bank officer.

  • I have an Indian bank nre account & a residential account..my question is residential account to are account money can transfer via net banking?.. thanks

    • Hi Rajakannu,

      No you can not transfer money from resident account to NRE account.You have to convert your resident account to NRO account.

  • We bought land in India in 1986 before emigrating from India. We sold this in 2014 and paid all tax due on it. With a certificate (I think 15CA) issued by a Chartered Accountant, the post tax proceeds went into an NRE rupee account. Can this be repatriated? The Indian bank manager says NO, because the money did not come in from overseas.

    • Hi Rizwan,
      In my opinion, the two leading methods for you to transfer money abroad through your savings account are through Wire Transfer (online) or via Foreign Currency Demand Draft (offline).

  • my client sold property and wants to repatriate $400000 to America. but LRS allows only $250000. what is the position?

  • Investment Made through NRE, for example, Mutual find, Shares, when sold, can this be deposited into the NRE account? If the above is possible what the taxation. Investment Made through NRO, for example, Mutual find, Shares, when sold, can this be deposited into the NRO account? What is the taxation for income earned by using this account? Transfer of amount from FROM NRO AND NRE.

  • Hello Hemant,

    This is very good information, i have been searching for such information for quite long time now. Thank you so much.

    What i would like to know is, from NRE account i think i am freely allowed to repatriate the amount with no limitations and from NRO if i need to repatriate the fund, the i need to fill in certain forms. Is that correct ? And also to repatriate the the funds from my NRE it should be done only via Bank or can i also do it via online agents like Transferwise.

  • Hi,

    15 CA 15 CB

    There are two issues for tax compliance in respect of remittance to Non-Resident :-

    1 Tax on income of Remiter/tax on sources of funds in NRO Account of Remitter

    2. Tax on remittances/tax on remittee

    I would to draw attention to following :-

    So far as Income tax compliance in respect of income of Remiter/tax on sources of funds in NRO Account of Remitter is concerned Form 15CA and Form 15CB are not relevant. There is nothing in these forms about tax on income of remiittier.These forms don’t cover income tax on income of remitter or sources of funds being transferred . These forms cover only tax on remittance in the hands of remittee./receipient NRI .

    Regarding tax compliance relating remittance being made is concerned , the transfer from from own NRO to own NRE account is not taxable and is covered in the list of 33 covered under Nature of Payment/Purpose code S-1301 Remittance by non-resident towards family maintenance and savings. In view of this there is no requirement of submission Form 15CA and 15CB when Transfer/Remittance of funds from own NRO Account to own NRE Account in the same Bank .

    Many of of CAs ,tax experts and even some bank officials agree that for transfer of funds from own NRO account to own NRE account or own foreign account Form 15CA and 15CB are not required.

    In-spite of above position many of the banks do ask for these forms mainly for avoiding any audit risk.

    I request your considered view whether asking by banks for form 15CA and 15CB is in accordance with regulatory requirement or it is only for extra precaution? In case remittance is not taxable and covered under specified list of 33 for what purpose bank are asking for these forms?

    • I had a long dispute with my HDFC bank on their demand. As my NRO a/c had tax-paid funds I gave them only Form 15CA Part D because there is no provision for 15CB under part D. That provision is only in part C. Even then bank asked for a 2 line certificate from my CA in India. I had to submit that but my CA caused delay and charged a lot of money even though he had worked on my taxes for past 30 years. Actual transfer took 6 months. This experience leaves a bad taste. The whole thing is a mess of govt. Regulations. Jai Hind.

      • Would be grateful, if you could share how to get part D of 15CA as it has to be loaded on income tax site and whether assistance of CA is required to get Part D.

        • You can do this if you are confident in working on internet and you have an account with Income Tax department. But it is not difficult to create your own account by going to Income tax filing website. This is a very friendly website and very informative about your Taxes.
          Now about filing form 15CA you will have to decide part A, B, C or D to be filed depending upon Tax status of funds to be repatriated. You will need to do some reading for this purpose.

  • I have recently changed my Domestic Savings Bank account to NRO account and opened a NRE account. Request your advise to transfer funds from NRO to NRE account to further simplify domestic taxation and to make outward remittance easier when needed. Would need your advise on correctly filling the 15CA form and your help on obtaining the 15CB form.

  • I want to transfer fund from my NRO account to my NRE account for which no form 15CA and 15CB are required as same is covered under exceptions purpose coed S- 1301 Why

  • I am NRI, Can I transfer money to my wife to buy a property(worth Rs 25L). Will there be any tax implication for my Indian resident Wife? Rental income from the property will be taxed to me or my wife?

  • I have returned to India. But plan to take up a job again later outside in another country. Can I continue to keep my foreign bank accounts?

  • What are the consequences of a Senior citizen NRI whose only source of income is interest from FDs in banks in india maintaining resident Indian status for say 2 years and transferring funds to her daughter at regular intervals as a gift from her Indian savings account through bank transfer? For how long can an NRI maintain Indian resident status legally? Should she convert her bank account in India to NRI/NRO account immediately after becoming a NRI ? What are the consequences if she does not comply with it for the first 2 years? Can she receive funds in her US savings account as gift or maintenance from another NRI in US from his Indian savings account? Can she receive in her US savings account maintenance/gift monies from her daughter in the US who is of Indian origin and subsequently become an American citizen? What are the consequences if she, who is an NRI, files IT returns in India as resident Indian?


  • As per and CBDT Circulars and notifications Certificate 15 CA and bd 15 CB are not required of transfer from NRO to NRE and outward remitances covered under 33 exemptions. But in practice mostly bankl insist for these not required certificates. In a country like India even CA professional are not coming out and writing about correct rquirement.

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