repatriate the sale proceeds to abroad

Q: how can an NRI remit or repatriate the sale proceeds of property in India to abroad?

Manisha Soori, Gurgaon

21st February 2013

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I have a personal experience , you are allowed. My friend also sold his plot in Gujrat and he carried the money. or esle if you have a bank account out of india, you can also transfer the money from India to you that account.

Tushar Surendren, Delhi

27th February 2013

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I do not think so there will be any such problem. they will give you are proper permit to take your money along with you. U need to have proper documentation about the property sale and the total money you are carrying.

Sufia, Delhi

27th February 2013

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Again in the event the property was acquired out of Rupee source, an amount not exceeding USD one million, per financial year, subject to tax compliance, out of balance held in NRO account, may be remitted/repatriated.

Pranjal, Delhi

25th February 2013

Comment

Yes the sale proceeds can be remitted/repatriated out of India

In the event property acquired out of foreign exchange source i.e. remittance through normal banking channels/ debit to NRE/ FCNR(B) accounts, the amounts to be repatriated should not exceed the amount paid for such property from such source. However, repatriation of sale proceeds purchased out of foreign exchange is restricted to not more that two residential properties, in a block of one year, with a facility of crediting the Capital gain to the NRO account.

rahul kirmani, Delhi

25th February 2013

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