SB NRI Repatriation is the process of transferring money from your NRI Bank Accounts (NRE, NRO & FCNR) to your overseas/foreign Bank Accounts. The process of repatriation from each NRI Bank Account is as follows:
| Accounts | Process | Limit |
| NRE | 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 |
| NRO | 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 |
| FCNR | 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 |
NRIs have the option to make non-repatriation investments in India utilizing funds from their NRO bank account. With such investments, the funds cannot be easily transferred to the NRI's country of residence or converted into foreign currency. In this blog, we will shed light on the NRI non-repatriable investments.
Many Non-Resident Indians have money in India that they want to send abroad to their overseas account. Outward Remittance or Repatriation is the answer to the question “How can NRIs send money abroad from India?”. As we have established earlier under Non-Residents and their Bank Accounts that NRIs can maintain the income generated from India such as rent from property, pension, gains from investments etc. in their Non-Resident Ordinary (NRO) Account. Now, this money can be transferred to their overseas bank Account following the regulations of Reserve Bank of India (RBI). This process of sending the money generated in India to the overseas bank accounts of the NRIs is called Repatriation and the medium through which the funds are transferred is called Outward Remittance. In this article we will understand this medium of repatriation in detail
The Financial Act 2020 has added Sub-section (1G) in Section 260C of the Income Tax Act 1961. The provision to collect tax on remittance was introduced in the Finance Act 2020. Tax collected at source (TCS) at the rate of 5% shall be imposed on the money sent outside India under the Liberalised Remittance Scheme (LRS) of the RBI. The new income tax rule has been effective from 1 October 2020. Here’s all you need to know about the new tax rule and how NRIs can save TCS on foreign remittance.
With the never-ending need of sending and receiving money worldwide, there is one question that has baffled every individual before going through with the transactions. “What is the best medium for sending money abroad online?”
Repatriation means the transfer of funds from an Indian account to a foreign bank account. NRI repatriation should be made in compliance with guidelines set by the FEMA (Foreign Exchange Management Act). NRIs can use NRE/NRO/FCNR bank accounts to hold and repatriate their funds from India to their foreign bank accounts, subject to the regulations of the Reserve Bank of India (RBI). If you want to know in detail about NRI repatriation of funds from India to abroad, then this article is for you. The article also covers the mode of repatriation, documentation, and reporting requirements for NRIs.
Medications are amongst the most important items for us in daily life. If you need medication from India, can it be sent to you? This article answers how to send medicine from India to U.S.A It is a fairly complex process and the steps need to be followed precisely in order for the drugs to be permitted.
With the huge influx of NRIs returning to India as an effect of the ongoing pandemic, it becomes necessary to understand about the rules and regulations and have knowledge of the protocol associated with the state wise quarantine rules for NRIs. Already under its sixth phase, the Vande Bharat Mission has done a splendid job in reaching out to and bringing back every stranded & distressed Indian citizen around the world. What becomes essential here is understanding the next step and preparing to stay safe. In this article, let’s explore the state wise quarantine rules for NRIs as well as Resident Indians returning to India during this period.
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