The starting point is which account holds the money. Funds in an NRE or FCNR account, your foreign earnings parked in India, are fully repatriable with almost no friction. The NRO account, which holds rupee income earned in India such as rent, dividends, and property-sale proceeds, is the one with limits and paperwork. That is where this guide focuses.

The USD 1 million scheme

The core rule is simple. An NRI can repatriate up to USD 1 million per financial year from an NRO account, no RBI approval required. The limit is per person, not per account, and it covers sale proceeds and capital, not just income. Anything above USD 1 million in a year needs prior RBI approval, which is slow and rarely worth the wait for an individual. Current income like rent and interest can generally be sent even beyond that, once tax is paid.

What sits in an NRO account usually falls into a few buckets: rent, dividends, and interest earned in India; the proceeds of selling shares, mutual funds, or property; and inherited or gifted money. All of it can be repatriated within the annual limit once the tax on it has been settled. Inheritance and the sale of inherited assets are allowed too, though the bank will want the will, the succession documents, and proof of how the asset was originally acquired.

Two details trip people up. The limit does not carry forward: if you use only half this year, you cannot add the rest to next year's million. And all your NRO repatriations in a given year must go through a single bank, so you cannot spread them across relationships to move faster.

The two forms that gate every transfer

No Indian bank will send NRO money abroad without two forms. Form 15CA is your online declaration of the remittance. Form 15CB is a certificate from a chartered accountant confirming the money's source and that Indian tax has been paid on it. Both are filed on the income-tax portal, and the CA usually prepares them together. Under the Income Tax Act 2025 these are being renumbered as Forms 145 and 146, but the process is the same. Add Form A2, the bank's own foreign-exchange declaration, and you have the full set.

This is where most delays live. The chartered accountant needs proof of the source of funds, a sale deed, a capital-gains computation, a gift deed, or rent agreements, and if that documentation is thin or the tax is unpaid, the certificate cannot be issued. The bank will not move without it. Done cleanly, the whole thing takes one to three weeks. Done carelessly, it can drag for months.

There is a tax layer underneath the forms. Payments to non-residents can attract TDS, and on a large gain the withholding can be heavy. Where the actual tax due is lower, you can apply to the assessing officer for a lower or nil deduction certificate before you remit, rather than parking a big sum with the tax department and waiting for a refund. On sizeable transfers, this one step can free up serious cash.

The mistakes that stall transfers

The common ones are avoidable. Trying to repatriate before clearing the tax on the underlying income or gain, which stops the 15CB cold. Thin or missing source documents. Assuming the NRO limit applies to NRE or FCNR money, which it does not. And attempting to move proceeds from restricted transactions, such as the sale of more than two residential properties bought with foreign funds, without the right approvals. Each of these turns a routine remittance into a stalled one.

The order of operations is what separates a smooth transfer from a stalled one: value the asset, compute and pay the tax, gather the source documents, then file the forms, and only then instruct the bank. Reverse that order, as many do by approaching the bank first, and you spend weeks working backwards.

For NRIs building fresh India exposure rather than unwinding old holdings, there is a cleaner path worth knowing. Money invested through GIFT City, where repatriation is simpler is treated as offshore and moves out without this NRO machinery at all. It does not help with property or income you already hold in India, but it can spare the next tranche of your portfolio the same friction.

Where this leaves you

The USD 1 million scheme is generous. The paperwork around it is not forgiving. Nearly every stalled transfer comes down to tax that was not settled or a document that was not ready, both fixable long before you hit send.

Frequently asked questions

How much can an NRI repatriate from an NRO account?
Up to USD 1 million per financial year, per person, without RBI approval. This covers capital and sale proceeds, not just income. Amounts above that need prior RBI approval.
Do NRE and FCNR accounts have the same limit?
No. NRE and FCNR balances are fully repatriable with no upper limit, since they hold foreign-sourced funds. The USD 1 million limit applies only to NRO accounts.
What are Forms 15CA and 15CB for?
Form 15CA is your declaration of the remittance and Form 15CB is a chartered accountant's certificate confirming the source of funds and that Indian tax has been paid. Banks will not process an NRO transfer without both.
Why do repatriations get delayed?
Almost always because tax on the underlying income or gain was not cleared, or the source documents the CA needs were incomplete. Both are fixable in advance and are the main cause of stalled transfers.
Can I use several banks to speed up a repatriation?
No. All your NRO repatriations in a given financial year must be routed through a single bank. Spreading them across banks is not permitted and will not make the process faster. This article is for information only and is not investment or tax advice. Rules referred to here apply as of mid-2026 and can change. Please speak to a qualified chartered accountant or adviser before acting. Sources for figures: RBI and FEMA guidelines on NRO repatriation and Income Tax Department requirements for Forms 15CA and 15CB, as applicable in 2025 to 2026. Verified July 2026.

If you are planning a large repatriation, especially from a property sale, the time to line up the tax and the certificates is well before the money is due to move. SELEQT can handle the paperwork end to end so the transfer clears the first time.