Documents required & Procedure to send money abroad from NRO
Account
RBI rules allow funds to be sent abroad from NRO accounts of NRIs as per specified procedures set by the authorities and subject to statutory exchange control regulations. RBI rules at present allow repatriation of up to US$ one million per financial year from NRO account. There is no limit however to remit current income such as rent, dividend, pension etc.Overview of procedure to transfer funds from India to a foreign country
Application form requesting transfer of money by account holder – Bank will have their own format form that account holder can fill. The application purpose is an authorization from account holder to transfer funds from their NRO account to an account abroad and specify currency etc. Form A2 – This is a standard form required when foreign currency is sent abroad. Your bank will give you a copy of this form. Source of Funds Proof – Where the money is coming from, for instance your NRO account, property sale, Pension etc. Form 15CB [Form a chartered accountant of your choice] Form 15CA – Submitted online. See below for procedure.Procedure to upload form 15CA
Login to: https://incometaxindiaefiling.gov.in [This is the Income Tax Govt. site] Go to e-filling log in page Input user ID (PAN of Remitter) and password After login, go to sub option: E file - Prepare and Submit Online Form (other than ITR) Select form type -15CA o Instructions are given to fill the 15CA form here. o The online form is available in four parts -Part A, Part B, Part C and Part D. o Complete the PART that applies to your situation, either or Part A or PART B or PART C or PART D After filling Form 15CA, verify and submit it. My account-My Returns/Forms. Here you will be able to view all the returns and Forms submitted. Click on the 15CA form and take a print along with acknowledgement Slip. To transfer money abroad, Form 15CA duly printed should be signed by Remitter and submitted to Bank.Form 15CA and Form 15CB Sample
To view sample form 15CA Click HERE To view sample form 15CB Click HERE
Disclaimer: Information provided is for general knowledge only and should not be deemed to be professional advice. For professional advice kindly consult a professional
accountant, immigration advisor or the Indian consulate. Rules and regulations do change from time to time. Please note that in case of any variation between what has
been stated on this website and the relevant Act, Rules, Regulations, Policy Statements etc. the latter shall prevail.
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Documents required &
Procedure to send money
abroad from NRO Account
RBI rules allow funds to be sent abroad from NRO accounts of NRIs as per specified procedures set by the authorities and subject to statutory exchange control regulations. RBI rules at present allow repatriation of up to US$ one million per financial year from NRO account. There is no limit however to remit current income such as rent, dividend, pension etc.Overview of procedure to transfer funds from
India to a foreign country
Application form requesting transfer of money by account holder – Bank will have their own format form that account holder can fill. The application purpose is an authorization from account holder to transfer funds from their NRO account to an account abroad and specify currency etc. Form A2 – This is a standard form required when foreign currency is sent abroad. Your bank will give you a copy of this form. Source of Funds Proof – Where the money is coming from, for instance your NRO account, property sale, Pension etc. Form 15CB [Form a chartered accountant of your choice] Form 15CA – Submitted online. See below for procedure.Procedure to upload form 15CA
Login to: https://incometaxindiaefiling.gov.in [This is the Income Tax Govt. site] Go to e-filling log in page Input user ID (PAN of Remitter) and password After login, go to sub option: E file - Prepare and Submit Online Form (other than ITR) Select form type -15CA o Instructions are given to fill the 15CA form here. o The online form is available in four parts - Part A, Part B, Part C and Part D. o Complete the PART that applies to your situation, either or Part A or PART B or PART C or PART D After filling Form 15CA, verify and submit it. My account-My Returns/Forms. Here you will be able to view all the returns and Forms submitted. Click on the 15CA form and take a print along with acknowledgement Slip. To transfer money abroad, Form 15CA duly printed should be signed by Remitter and submitted to Bank.Form 15CA and Form 15CB
Sample
To view sample form 15CA Click HERE To view sample form 15CB Click HERE
