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Funds Transfer from Indian Acc to Foreign Acc

22 February 2023

Hello,

I am an NRI from past 7-8 years i have sold an Indian Property for 1.5 Cr and paid the LTCG would like to know how can i transfer my funds in Indian Account to my Foreign account.

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5 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (194527 Points)
Replied 22 February 2023

how-to-repatriate-funds-abroad-from-your-nro-account/

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CA Sorav Gupta (Chartered Accountant) (1005 Points)
Replied 22 February 2023

Convert your regular saving A/c to NRO A/c and then repatriate the fund. In this way, TCS will not be collected by the bank as the same is under the limit.

In case of any further queries, kindly mail me at casoravgupta @ gmail.com

Thanks & Regards
CA. Sorav Gupta
(Practicing Chartered Accountant)

CA Sorav Gupta (Chartered Accountant) (1005 Points)
Replied 22 February 2023

Convert your regular saving A/c to NRO A/c and then repatriate the fund. In this way, TCS will not be collected by the bank as the same is under the limit.

In case of any further queries, kindly mail me at casoravgupta @ gmail.com

Thanks & Regards
CA. Sorav Gupta
(Practicing Chartered Accountant)

2 Like

Vinay Jaindani (188 Points)
Replied 23 February 2023

will form 15CA/15CB applicable and required to filed before remitting the funds?

Roodita Gaikwad (Practice) (4650 Points)
Replied 22 April 2025

As an NRI who has sold Indian property and paid the Long-Term Capital Gain (LTCG) tax, you can transfer the funds from your Indian NRO account to your foreign account.

The process typically involves the following steps:

Form 15CA and 15CB: You will need to file Form 15CA for the remittance. If the remittance is above the prescribed limit or involves the transfer of capital gains, Form 15CB will be required as well. Form 15CB will be issued by a Chartered Accountant confirming the tax payment on LTCG.
Documents: You may need to submit relevant documents such as the sale deed, proof of tax payment, and other details to the bank for processing the transfer.
Bank Procedure: After submitting the required forms and documents to your bank, they will process the remittance to your foreign account. The bank may also ask for additional documentation depending on their internal policies.