Annual Repatriation Limit

• Up to USD 1 million per financial year can be repatriated.
• The limit includes both principal and interest components.
• Applies per account holder, not per account.
• All authorized dealers follow this RBI-prescribed limit.
• Amounts above the limit require special RBI approval.

Eligible Sources of Funds

• Legitimate earnings like rent, dividend, pension, or sale proceeds.
• Funds must be earned in India and credited to the NRO account.
• Proceeds from property sales are permitted within the limit.
• Transfer of inheritance is allowed as per Indian law.
• Documentary evidence for all credits is required.

Tax and Compliance Requirements

• Taxes must be paid on all earnings before repatriation.
• Tax deduction at source (TDS) is applicable on interest and certain incomes.
• Proof of tax payment must be submitted to the bank.
• Form 15CA/15CB may be required for repatriation requests.
• Compliance with FEMA and RBI rules is mandatory.

Banking Procedures for Repatriation

• Submit a repatriation request to the bank with supporting documents.
• Banks verify source, taxes, and documentation before processing.
• Application forms and declarations may be needed.
• Processing time may vary depending on bank policy.
• Repatriation is credited to an overseas account in foreign currency.

Special Considerations and Restrictions

• Joint account holders must provide required approvals.
• Funds of non-resident origin in NRO account can be repatriated without limit if proper evidence is provided.
• Any attempt to bypass repatriation rules is strictly prohibited.
• RBI monitors large or suspicious transactions.
• Regulations may change, so regular updates are necessary.