How Can NRIs Repatriate Property Sale Proceeds from India?

You may need Form 15CA and, in certain cases, Form 15CB, but the requirement depends on the nature of the remittance and the applicable tax rules.

Form 15CA is used to furnish information for specified payments or remittances to non-residents. Form 15CB is a Chartered Accountant’s certificate used in applicable cases involving taxable remittances when the relevant conditions are met. It is not correct to assume that Form 15CB is mandatory for every international transfer.

For a property sale, the bank may also need evidence of the sale, the original acquisition, and the applicable tax treatment. Keep records of TDS deducted by the buyer and any tax payments or tax calculations relevant to the sale.

Ask your CA and bank which forms and supporting documents apply before submitting the transfer request. The Income Tax Department publishes official guidance for Form 15CA and Form 15CB.

The USD 1 million figure generally refers to a remittance facility available to eligible NRIs and other qualifying persons for certain NRO balances and asset-sale proceeds, subject to the applicable conditions.

It does not automatically mean that every property seller can transfer any amount without checking the source of funds or the type of property. If a property was purchased using eligible foreign-exchange funds through banking channels, a different repatriation route may apply, with limits linked to the original qualifying acquisition amount. For residential properties, a two-property restriction applies under the relevant route.

For property acquired using rupee funds, or property received through inheritance, the applicable remittance provisions and supporting evidence need to be checked. The bank may ask for an undertaking, a CA certificate and proof of acquisition or inheritance.

I would not rely on the USD 1 million limit alone when planning the transfer. Ask your authorised dealer bank to classify your transaction under the appropriate RBI provision and confirm the available amount, annual limit and documentation.

I would contact your Indian bank before initiating the international transfer. Ask its NRI or foreign-exchange department for the current property-sale repatriation checklist.

The bank will usually want to establish how you acquired the property, how the original purchase was funded, and whether the sale and tax documentation are in order. Your sale proceeds may need to be credited to your NRO account before being remitted abroad, depending on the transaction and the applicable rules.

Keep your original purchase deed, sale deed, bank statements showing the original purchase payments, and documents showing receipt of the sale proceeds. If you inherited the property, inheritance or succession documents may also be relevant.

The RBI has different provisions for qualifying proceeds from property acquired using foreign-exchange funds and for remittances from NRO balances. The rules are not identical, so do not assume every seller can transfer the full sale amount abroad under the same route.

I would get the bank’s document checklist in writing and have a CA review the tax calculation before submitting the application. That should help you identify missing documents early.