NRI repatriation calculator — sending property sale money abroad

What is the USD 1 million repatriation limit for NRIs?

Under the RBI’s Master Direction on Remittance of Assets, an NRI or person of Indian origin can remit up to USD 1 million per financial year from NRO balances, sale proceeds of assets and assets inherited in India, on documentary evidence and after applicable tax. The Indian financial year runs from 1 April to 31 March, so the limit resets every April.

The limit is shared: everything you send from NRO in that year counts towards it — rent, pension, fixed-deposit maturities and property money alike. If you have sent $300,000 of rent and savings since April, only $700,000 of room is left for the sale proceeds this year.

Worked example: ₹12 crore left after tax, at about ₹95.8 to the dollar, is about $1.25 million. Sold in September 2026, you could send $1 million in FY 2026-27 and the remaining ~$253,000 from 1 April 2027, in FY 2027-28.

Can I repatriate sale proceeds of property bought with foreign money?

Yes, under a separate route. The RBI’s Master Direction on Acquisition and Transfer of Immovable Property lets an NRI or OCI repatriate sale proceeds if the property was acquired lawfully and paid for in foreign exchange through banking channels or from an NRE or FCNR(B) account. For residential property, this route is limited to not more than two properties.

Only the amount originally paid in foreign exchange goes back this way. Example: a flat bought in 2012 for ₹60 lakh paid from an NRE account and sold today for ₹1.5 crore — ₹60 lakh can be repatriated under this route, and the remaining ₹90 lakh (after tax) goes through NRO under the USD 1 million limit.

Property bought with rupees while you lived in India, and inherited property, don’t use this route. Their sale money is credited to your NRO account and sent under the USD 1 million a year facility.

Do I still need Form 15CA and 15CB?

The forms were renumbered when the Income-tax Act, 2025 replaced the 1961 Act on 1 April 2026. For remittances from that date, Form 15CA is now Form 145 (your declaration on the income-tax portal) and Form 15CB is now Form 146 (a chartered accountant’s certificate), under Rule 220 of the Income-tax Rules, 2026.

The logic is the same as before: where the money is taxable and more than ₹5 lakh goes out in the year, the CA certifies in Form 146 that tax has been paid, and you then file Form 145 before the bank sends the money. Banks ask for these for most NRO repatriations of property money, so budget for a CA’s fee.

What must be done before the money can leave India?

Tax first. The buyer deducts TDS when paying an NRI seller (section 195 of the old Act, now section 393 of the Income-tax Act, 2025), and you file an Indian tax return for the year of sale. If TDS was deducted on the full price but your actual gain is smaller, the excess comes back as a refund after you file.

Then paperwork: the sale deed, proof of how you acquired the property (purchase deed, or will, succession certificate or legal-heir papers for inherited property), the TDS certificate, the CA certificate and Form 145. Send every instalment through the same bank, as the RBI requires.

Can I sell agricultural land I inherited and send the money abroad?

Usually yes. NRIs cannot buy agricultural land, farmhouses or plantation property in India, but they can inherit it and sell it — generally only to an Indian citizen resident in India. The sale money goes to your NRO account and can be sent abroad under the same USD 1 million a year limit, with proof of inheritance.

Whether you owe tax on the sale depends on where the land is: rural agricultural land is not a capital asset at all. Check it with our agricultural land capital asset checker before you work out the after-tax figure.