NRI remittance limits
USD 1 Million NRI Repatriation Limit Explained
The limit is generally an annual aggregate facility—not a separate allowance for every account, bank, property or transfer route.
Quick summary
Think of the limit as one annual bucket for eligible capital remittances.
RBI guidance generally allows an NRI or eligible overseas Indian to remit up to USD 1 million per Indian financial year from NRO balances together with certain other eligible assets, subject to tax payment, documentary evidence and authorised dealer bank satisfaction.
The ceiling is generally aggregated across banks and transfer routes. It is not a separate USD 1 million allowance for each NRO account, property or bank.
Current income such as rent, pension, interest and dividend may follow a separate current-income repatriation route after tax and should be identified separately from capital funds.
Annual FEMA facility
What does the USD 1 million limit actually mean?
The facility applies on a financial-year basis from April to March and is commonly used for eligible NRO balances and proceeds from property, investments and inherited assets.
The authorised dealer bank must still be satisfied about the source, ownership, tax treatment and document trail of every amount.
Eligible funds can include more than an NRO savings balance
| Source | Typical route | Main evidence |
|---|---|---|
| Accumulated NRO balance | Eligible remittance or NRO-to-NRE transfer | Account history, source and tax records |
| Property-sale proceeds | Capital remittance under the applicable facility | Acquisition, sale, TDS and capital-gains documents |
| Investment redemption or sale | Eligible capital remittance | Purchase, holding, sale and tax records |
| Inherited money or assets | Remittance after legal entitlement and tax review | Succession, transmission, source and tax evidence |
One person, one annual ceiling
How aggregation across banks works
Remittances made through different banks should generally be combined for the same financial year. Banks may require a declaration covering prior remittances through other authorised dealers.
| Example | Annual utilisation |
|---|---|
| USD 400,000 through Bank A and USD 300,000 through Bank B | USD 700,000 |
| USD 600,000 property proceeds plus USD 250,000 inherited investments | USD 850,000 if both use the same annual facility |
| USD 500,000 transferred from NRO to NRE plus USD 500,000 remitted from another NRO | USD 1 million in total |
| Two properties sold in the same financial year | The ceiling is not automatically doubled |
Same annual ceiling
NRO-to-NRE transfer is not a second USD 1 million facility
Eligible NRO funds may generally be transferred to NRE within the overall annual ceiling, after applicable tax and bank documentation.
Moving the money to NRE changes the account in which it is held, but it does not ordinarily create an additional allowance.
Separate classification
Current income should not automatically be mixed with capital funds
Rent, pension, interest, dividend and similar current income may be repatriable after applicable tax. Banks should identify the nature correctly because current-income remittance and capital-asset remittance can require different evidence.
Property-sale proceeds under the annual facility
| Document area | Common records |
|---|---|
| Ownership and acquisition | Purchase deed, inheritance or gift records, cost and indexation working |
| Sale | Sale deed, buyer details and bank receipt |
| Tax | Capital-gains computation, buyer TDS, challans and return acknowledgement |
| Remittance | NRO statement, Forms 15CA/15CB where applicable, Form A2 and bank declarations |
Read: How NRIs Can Repatriate Property Sale Proceeds from India.
Inherited assets
The annual limit does not replace inheritance documentation
Inherited money may fit the facility, but legal entitlement must be established first. Depending on the asset, the bank may request a death certificate, will, probate, succession certificate, legal-heir records or transmission documents.
Inheritance itself and later income or capital gain are separate tax questions. The remittance file should show both the legal transfer and subsequent tax treatment.
Planning across time
Large balances may be remitted over multiple financial years
Where eligible funds exceed USD 1 million and no other route is available, staged remittances across financial years may be considered, subject to the rules and bank review applicable in each year.
Unused capacity should not be assumed to carry forward. Keep a separate utilisation register and compliance file for every year.
Documents banks commonly request
| Document group | Examples |
|---|---|
| Identity and status | PAN, passport, visa or overseas-status proof, KYC and account details |
| Source of funds | Sale deed, investment statements, inheritance papers, maturity advice or account history |
| Tax compliance | Tax computation, TDS records, challans, return acknowledgement and Forms 15CA/15CB where applicable |
| Annual utilisation | Prior remittance advice, other-bank declarations and NRO-to-NRE transfer history |
| Bank forms | Form A2 or bank remittance form, purpose code, beneficiary details and undertakings |
Amounts above the standard route
More than USD 1 million may require separate RBI approval or another permitted route
A remittance above the annual facility should not be split or misclassified merely to avoid the ceiling. The available route depends on the asset, ownership and applicable regulations.
Avoid these errors
Common USD 1 million limit mistakes
- Treating the limit as separate for each bank.
- Assuming every NRO credit is automatically eligible.
- Counting NRO-to-NRE transfer and overseas remittance as two limits.
- Failing to combine remittances from multiple banks.
- Mixing current income and capital funds without separate workings.
- Ignoring tax on property, investment or post-inheritance income.
- Assuming unused capacity carries forward.
Watch related guide
How the USD 1 million annual limit works
This CBTD video explains why the facility is aggregated across accounts, banks and eligible capital sources.
FAQs
USD 1 million repatriation questions
Is the USD 1 million repatriation limit per bank?
No. It is generally an aggregate annual limit for the person, not a separate limit for each bank, account, property or asset.
Is the limit based on the Indian financial year?
Yes. RBI guidance describes it on a financial-year basis from April to March.
Does it apply only to NRO account balances?
The facility can cover eligible NRO balances together with certain other eligible assets or sale proceeds, subject to conditions and documentary evidence.
Does rent or pension count toward the USD 1 million limit?
Current income such as rent, pension, interest and dividend may be repatriable after applicable tax and should be classified separately from capital funds.
Can an NRI transfer USD 1 million from NRO to NRE and another USD 1 million abroad?
No. NRO-to-NRE transfers and outward remittances generally fall within the same overall annual ceiling for eligible NRO and capital funds.
Can unused limit be carried forward?
Unused capacity should not be assumed to carry forward into a later financial year.
Can more than USD 1 million be remitted?
Amounts above the standard facility may require specific RBI approval or another permitted route.
What documents show annual utilisation?
Banks may ask for prior remittance advice, declarations, statements from other banks, Form A2 records and a financial-year utilisation summary.
Planning a large remittance?
Track the source, tax and annual utilisation before applying to the bank.
Share the amount, source, prior remittances, account route and documents available. CBTD can help organise the India-side repatriation review.
Disclaimer: This guide is general information, not tax, FEMA, legal or banking advice. Eligibility, aggregation, current-income treatment and approval requirements depend on current regulations, authorised dealer review and individual facts.