NRI Repatriation Calculator (NRO)

Calculate how much money you can legally transfer from your Indian NRO account to your foreign bank account (or NRE account) under the RBI's USD 1 Million Scheme.

FEMA Rules | FAQs

Repatriation Details

The $1 Million limit resets every April 1st.

Current Funds & Rates

Include sale of property, rent, FD maturity, etc.

Max Funds You Can Remit Today

₹0 ($0)

Based on your remaining $1M limit and available NRO balance.

Limit Utilization (USD)

Statutory Annual Limit $1,000,000
Less: Already Remitted -$0
Remaining Limit (USD) $0

Funds Analysis (INR)

Remaining Limit in INR ₹0
Total NRO Balance ₹0
You can only transfer whichever is LOWER between your Remaining Limit and your actual NRO Balance.

Compliance Checklist

  • ✅ Have you obtained Form 15CB from a Chartered Accountant in India?
  • ✅ Have you filed Form 15CA on the Income Tax E-filing portal?
  • ✅ Are the funds derived from legitimate sources (inherited property, rent, pension)?

The USD 1 Million Scheme (FEMA)

Under the regulations of the Reserve Bank of India (RBI) and the Foreign Exchange Management Act (FEMA), Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) are permitted to remit an amount up to USD 1 million per financial year (April – March) out of balances held in their NRO accounts.

NRO vs NRE Repatriation

Account Type Repatriation Limit Taxability
NRO Account Restricted to USD 1 Million / FY Interest is taxable in India.
NRE Account Freely Repatriable (No Limit) Interest is tax-free in India.
FCNR Account Freely Repatriable (No Limit) Interest is tax-free in India.

Documentation Required

Transferring funds out of an NRO account requires strict compliance with Indian Income Tax Laws to ensure that the money being sent abroad has been properly taxed. Banks require two main documents before processing the wire transfer:

  • Form 15CB: A certificate issued by an Indian Chartered Accountant verifying that appropriate TDS (Tax Deducted at Source) or capital gains tax has been paid on the money being transferred.
  • Form 15CA: A self-declaration form submitted online on the Income Tax Portal by the NRI, based on the CA's 15CB certificate.

Frequently Asked Questions

1. What is the USD 1 Million Scheme?
Under the Foreign Exchange Management Act (FEMA), Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) can remit up to USD 1,000,000 per financial year out of balances held in their Non-Resident Ordinary (NRO) accounts.
2. What happens if I need to remit more than USD 1 Million?
If you wish to remit more than USD 1 Million in a single financial year, you must obtain prior special approval from the Reserve Bank of India (RBI).
3. Does this limit apply to NRE accounts?
No. Funds held in an NRE (Non-Resident External) or FCNR account are freely repatriable. There is no upper limit on transferring funds from an NRE account to a foreign bank account.
4. Can I transfer the money to my NRE account instead of a foreign account?
Yes, you can transfer funds from your NRO account to your own NRE account, provided it falls within the USD 1 Million annual limit and you submit the required Form 15CA and 15CB.
5. What are Forms 15CA and 15CB?
Form 15CB is a certificate issued by a Chartered Accountant in India confirming that appropriate taxes have been paid on the funds being remitted. Form 15CA is a declaration filed by you online on the Income Tax Portal based on the 15CB.
6. What sources of income can be repatriated under this limit?
You can repatriate sale proceeds of immovable property, rent, pension, dividends, interest, and inherited assets held in your NRO account.
7. Is the limit per calendar year or financial year?
The limit is per Financial Year (April 1 to March 31). On April 1st of every year, the USD 1 Million limit is refreshed.
8. Do I have to pay tax on the remittance itself?
There is no 'remittance tax'. However, you must prove that the income you are remitting has already been taxed in India according to the Income Tax Act (e.g., TDS on rent, capital gains tax on property sale).

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