Repatriating Money Abroad: Form 145/146 (Old 15CA/15CB) and the USD 1 Million NRO Limit
You have sold a flat in India, or built up rent and interest in your NRO account, and now you want to move the money abroad. Two sets of rules apply: FEMA (RBI), which sets how much you can send, and the Income-tax Act, which makes sure tax has been paid first.
Part 1: How much can you send? (RBI/FEMA)
| Source of funds | Limit |
|---|---|
| NRE / FCNR balances | No limit. Freely repatriable |
| NRO balances, sale of assets in India, inherited assets | Up to USD 1 million per financial year (April to March), for genuine purposes, after applicable taxes |
| Sale of property bought with foreign money (sent from abroad or from NRE/FCNR) | Repatriable up to the amount originally paid in foreign exchange, for a maximum of two residential properties |
Transfers from NRO to NRE also count towards the USD 1 million limit.
Inherited property: proceeds can be repatriated within the USD 1 million limit if you produce documents proving the inheritance (the will, or a succession or legal heir certificate).
Part 2: Tax compliance before sending (Income-tax Act)
Before your bank sends money to a non-resident, including yourself as an NRI, it needs proof that tax has been dealt with. These forms were renumbered from 1 April 2026:
| Old form (1961 Act) | New form (2025 Act) | What it is |
|---|---|---|
| Form 15CA | Form 145 | An online declaration by the person sending the money (the remitter) |
| Form 15CB | Form 146 | A Chartered Accountant’s certificate confirming the taxability and that TDS has been dealt with |
When is the CA certificate (Form 146) needed?
Under the old 15CA structure there were four cases. The same logic continues:
- Payment not more than ₹5 lakh in the year: a short declaration only (no CA certificate).
- Payment taxable and more than ₹5 lakh: a CA certificate (Form 146) is needed, unless the Assessing Officer has issued an order or certificate.
- Payment not taxable (for example, already-taxed savings being sent abroad), or on the list of exempt payments: a simplified declaration.
In practice: for NRO repatriation, banks almost always ask for Form 145 plus a CA certificate on Form 146. The certificate confirms that tax on the money (rent, interest, capital gains) has been paid or deducted.
Documents usually needed
- Passport and visa or overseas residence proof
- PAN
- Bank statements of the NRO account
- For property sale proceeds: the sale deed, the purchase deed, the TDS certificate, and your capital gains calculation and ITR or tax payment proof
- For inheritance: the will, succession certificate or legal heir documents
- Form A2 or the bank’s remittance application, and a declaration that you are within the USD 1 million limit
The process step by step
- Collect the documents and the tax proof.
- The CA reviews them and issues Form 146 online. You then accept it on the e-filing portal.
- You file Form 145 online, quoting the Form 146 acknowledgement.
- Submit Forms 145 and 146 with the bank’s remittance application.
- The bank sends the money.
Typical time: a few working days once the documents are complete. The CA certificate and form filing can usually be done within 1–3 days.
Common mistakes
- Going over USD 1 million in a financial year. The limit includes NRO-to-NRE transfers.
- Trying to repatriate before the capital gains tax on a property sale has been paid or deducted.
- Using a resident savings account, which should have been converted to NRO.
- Forgetting that repatriation may be taxed in your new country if it treats the money as income. Usually it does not, because it is your own capital, but check.
Frequently asked questions
Are 15CA and 15CB abolished?
They have been renumbered. From 1 April 2026 they are Form 145 and Form 146 under the Income-tax Rules, 2026, and they serve the same purpose.
Can I split repatriation across two financial years?
Yes. The USD 1 million limit applies per financial year, so large amounts can be spread over March and April.
Is NRE money subject to these forms?
NRE balances are freely repatriable. Banks may still need basic declarations, but the USD 1 million NRO limit does not apply.
Does a CA certificate cost a lot?
The fee depends on how complex the case is. For a simple NRO interest or rent case it is usually modest. Property sale cases need more review.
Need to move your money abroad? Garvita Jain & Co. is a CA firm that issues Form 146 certificates, files Form 145 and coordinates with your bank. Contact us here, or at contact@garvitajainandco.com or +91 98678 16597.
This article is general information based on the law as of October 2026 and is not professional advice.
Sources
Official
- RBI, Master Circular on remittance facilities for NRIs/PIOs (USD 1 million from NRO / sale proceeds) (check the latest RBI Master Direction, “Remittance of Assets”, on rbi.org.in)
- Income Tax Department, Form 146 (Accountant’s certificate, payments to non-resident)
Professional / CA publications