Ready Reckoners
READY RECKONER #14.4 · MONEY ACROSS BORDERS

I have money in my NRO account. Can I send it abroad?

Start with where the money came from—not with the amount in the account.

30-SECOND ANSWER

NRO money is not treated as one single category.

Rent and interest are different from property-sale proceeds or inheritance. First identify the source. Then check the FEMA route, tax position and documents required by the bank.

The three checks

1 · SOURCEWhere did the money come from?
2 · FEMAWhich repatriation route or limit applies?
3 · TAXAre tax and Forms 145/146 requirements complete?

Broad source categories

Current income

Examples include eligible rent, pension, salary, interest, dividend and business income earned in India. Current income is generally repatriable under the FEMA current-account route after applicable tax and documentary checks. Do not read “freely repatriable” as “no questions or documents.”

Capital funds

Examples can include property-sale proceeds, inheritance, gifts, investment redemption and other capital balances. These commonly require review under the USD 1 million per financial year facility or another source-specific FEMA route.

Cases that need source-specific checking

FD maturity, insurance proceeds, PPF, income-tax refunds, loan repayments, property-booking refunds and KSFE FD/chitty proceeds should not be classified only from the credit narration. Preserve the document that proves the original source.

FEMA limit and tax forms are different

The USD 1 million facility does not replace tax compliance.

FEMA determines whether and how the money may be sent abroad. Income Tax rules determine taxability and whether Form 145, Form 146 or another document is relevant. The bank checks both before processing the remittance.

Your practical checklist

✓ Identify every source included in the NRO balance.
✓ Keep bank statements and source documents.
✓ Check whether tax was deducted or paid.
✓ Check the FEMA route and available annual limit.
✓ Check which part of Form 145 applies.
✓ Obtain Form 146 from a CA only when applicable.
✓ Ask the remitting bank for its current document checklist.

Continue with the tax forms

Form 145 — which Part may apply? →Form 146 — when is a CA certificate relevant? →

Official references

RBI — Remittance of Assets Master Direction →Income Tax Department — Form 145 guidance →

The examples and bank-process framing were cross-checked against an ICICI Bank NRI repatriation information graphic. Bank material is a practical input; RBI/FEMA and Income Tax sources remain controlling.

Still unsure which category your money belongs to?

Write down the source, date, amount and supporting document before seeking a case-specific review.

Ask Amrutha about the unclear part →

Educational information only. This is not tax or legal advice. Last reviewed: 4 September 2026.