What is the limit to repatriate funds from NRE?
SBNRI Team
answered on 24/02/2023
There is no limit to repatriate funds from NRE accounts as it is fully and freely repatriable from India. NRE Deposits are tax-free in India as NRE Accounts are meant to maintain the income earned outside India.
Can you transfer funds from NRO to NRE Account?
Yes. You can transfer funds from NRO to NRE account after providing proper documentation prepared by a Chartered Accountant stating that all the taxes are paid on the funds being transferred from the NRO Account.
What is the cess charged while we repatriate funds from NRE?
*Cess: A cess is a tax on tax that you pay to the government for purposes set by the government. The cess is charged till the objective set by the government is fulfilled. Eg: Krishi Kalyan Cess, Swachh Bharat Cess etc.
Process of Repatriation from NRE Account
Accounts | Process | Limit |
1. ONLINE:
2. OFFLINE: Fill these 2 forms. (You can get them at the bank branch or download them online, sign them and send them to the bank branch in India via courier in case you are abroad.)
| No Limit | |
All the following documents are needed to be submitted at the Bank Branch (in India). You can either submit it when you arrive here or download it online and send the signed copies to bank branch via courier:
| USD 1 million | |
1. ONLINE:
2. OFFLINE: Fill these 2 forms. (You can get them at the bank branch or download them online, sign them and send them to the bank branch in India via courier in case you are abroad.)
| No Limit |
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Related Questions
SBNRI Team
answered on 30/03/2020
No. There are no taxes on money transferred from India to Middle East. Also, There are no income taxes in the Middle East. So, the tax implications are eliminated automatically. Taxes on money transferred from India to Middle East based on the account chosen: NRE: The NRE account can be opened for the purpose […]
SBNRI Team
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You can repatriate funds from NRO account only up to a maximum limit of USD 1 million per financial year as allowed by Reserve Bank of India (RBI). The funds are not freely repatriable. The interest earned on NRO Deposits is taxable in India: 30% tax + surcharge + education cess* is deducted at the […]
SBNRI Team
answered on 11/02/2023
You can send money from India to UK from either of your NRI Accounts. The taxes on sending money from India to UK depends on the type of account chosen. Taxes on sending money from India to UK based on the account chosen: NRE: The NRE account can be opened for the purpose of […]
SBNRI Team
answered on 25/02/2023
Repatriation refers to the transfer of funds (both principal amount and the interest earned on the deposit) from any of the NRI Accounts [NRE/NRO/FCNR (B)] from India to the overseas bank account of the NRI in his/her country of residence. The process of repatriation of funds from India to UK through your NRI […]
