Nris are also allowed to repatriate or bring money from india from the sale of a maximum of two residential properties. The time span for the transfers to be effective is 12 to 48 hours.
Though various restrictions and rules are currently in place.
How to repatriate money from india. This is a savings account where the nri or pio can maintain and manage their income earned in india like dividends pension and rent among others. Interest earned in your nro account. Bookmyforex with zero commission and zero charges they claim to send money from india to the uk at guaranteed lowest exchange rates.
Once the money is available in your nro account and ready to repatriate the documents required include sale agreement of your property form 15 ca 15cb fema declarations along with signed forms which your bank will provide you. The following lists the items in which money earned in india can be easily repatriated after paying taxes and submitting a few sets of documents. The transfer of funds income by nri non resident indian or pio person of indian origin from the balances held in their non resident ordinary rupee account nro a c to his her non resident external account nre a c or overseas bank account is termed as repatriation.
Sale proceeds should be credited to a non resident ordinary nro account. Local earnings in india like pension rental income interest profit from the business dividends tax refunds etc. The reserve bank of india has delegated its powers to banks and also authorized dealers to repatriate funds abroad.
Repatriation repatriation refers to the transfer of indian rupees from your non resident ordinary nro rupee checking account or nro deposit either in foreign currency to your overseas account or fcnr deposit or in indian rupees to your non resident external nre rupee checking account. Sources of assets funds held in india by nrisor pios. To select the right money transfer service one should keep the cost and time factors in mind.
If your property was purchased with remitted funds from overseas then the principal amount can be repatriated quickly.