Step-by-Step Repatriation of Indian Property & Inheritance Proceeds: Form 15CA & 15CB Manual
How Non-Resident Indians can remit up to $1 Million USD annually from NRO to foreign bank accounts without regulatory friction.
Once an Indian asset is liquidated—whether real estate, family inheritance, mutual funds, or business equity—the proceeds are credited to an NRO (Non-Resident Ordinary) account. Moving these funds to an overseas bank account (or transferring to an NRE account) requires strict compliance with RBI's 1 Million USD Remittance Facility and FEMA guidelines.
The Legal Architecture: Form 15CA & Form 15CB
To prevent unauthorized flight of capital and tax evasion, the Reserve Bank of India and Central Board of Direct Taxes (CBDT) mandate a two-tier verification mechanism:
- Form 15CB (Chartered Accountant Certificate): An independent CA audits the financial source of funds, verifies that applicable Indian taxes have been paid or exempted under DTAA, and certifies the exact remittance amount.
- Form 15CA (Remitter Declaration): An online declaration filed by the remitter on the income tax portal, referencing the 15CB acknowledgement number.
"The key to smooth fund repatriation is documentary traceability. If your purchase deed, sale deed, and bank trail reconcile perfectly, the wire transfer executes in 72 hours."
The 5-Step Repatriation Blueprint
- Reconciliation of Funds: Reconcile the sale consideration against bank credits and Form 26AS/TDS certificates.
- CA Audit & 15CB Issuance: Your Chartered Accountant issues Form 15CB with digital signature on the IT portal.
- Online 15CA Part C Filing: Generate and submit Form 15CA using the 15CB verification code.
- Bank A2 Application: Submit Form A2 (FEMA outward remittance application) along with 15CA/15CB to your Authorized Dealer bank.
- SWIFT Transfer: The bank executes the international wire to your overseas account (in USD, GBP, EUR, AED, or CAD).
Inheritance Special Considerations
If the funds originate from an inheritance rather than a personal property sale, the bank will require the registered Will, Succession Certificate, or Family Settlement Agreement alongside death certificates of the deceased property owners. Fin2Excel specializes in structuring inheritance remittances with complete legal verification.