What are the FEMA Rules for Repatriation?

I recently looked into the same issue and found that the USD 1 million limit is per financial year, meaning April to March, rather than calendar year. RBI specifically describes the NRO repatriation limit on that basis.

Also, don't confuse FEMA repatriation rules with the Liberalised Remittance Scheme (LRS). LRS is primarily a facility for resident individuals; NRI repatriation from NRO/NRE accounts operates under different FEMA provisions.

As for tax forms, the bank may ask for tax-related declarations/certificates depending on the transaction. I would not rely on a generic online checklist because documentation can vary according to the source and amount of the remittance.

The important thing is to maintain a clear trail showing where the money came from, that applicable Indian taxes have been dealt with, and that the remittance satisfies the relevant FEMA/RBI conditions.

Property proceeds are where I would be particularly careful.

RBI's Remittance of Assets guidance provides for NRIs/PIOs to remit up to USD 1 million per financial year from eligible NRO balances and certain eligible assets, subject to the applicable conditions.

If the money comes from selling an Indian property, the bank will normally want documentation establishing the source of funds and compliance with the applicable tax and FEMA requirements.

I wouldn't assume that paying capital-gains tax automatically means the entire sale proceeds can be sent overseas without further checks. The property's acquisition history, how it was acquired, the seller's status and the nature of the asset can all matter.

For a substantial property transaction, getting the bank and a CA involved before the sale proceeds are moved is much safer than trying to sort out the paperwork afterward.

The biggest distinction is between NRE/FCNR funds and NRO funds.

NRE account balances are generally repatriable, while NRO balances are subject to the FEMA/RBI conditions applicable to NRO repatriation. RBI guidance states that balances in NRO accounts of NRIs/PIOs can generally be remitted up to USD 1 million per financial year (April–March), subject to the prescribed conditions.

So the USD 1 million figure shouldn't be interpreted as a blanket limit on every type of money an NRI can send abroad.

For example, money that was originally brought into India through an NRE account has a different repatriation treatment from income earned in India and maintained in an NRO account.

I'd also ask the bank for its current documentation checklist before initiating a large transfer. The exact paperwork can depend on the source of funds.

In my case, I transferred funds from my NRE account, and the process was much simpler than transfers from my NRO account.

The bank explained that different account types have different rules, which is why there are separate discussions about FEMA requirements. They advised me to contact the NRI banking team before initiating any large outward transfer.

Requirements can change, and individual circumstances differ, so I think it's worth confirming the latest guidance with your bank before preparing all the paperwork.

I repatriated rental income from my NRO account to the UK last year. My bank asked for proof of the source of funds, copies of my passport and PAN, and tax-related documents before processing the transfer.

They also explained that FEMA and tax compliance are separate aspects of the transaction. The bank reviewed the paperwork before approving the outward remittance. The process wasn't difficult, but it took a little longer than I expected because they wanted all the documents to match.

Based on my experience, the bank's NRI desk was very helpful in explaining what was required for my specific case.