Remittance of money by NRI from India

An NRI may remit his current income like rent, dividend , pension, interest etc on the basis of the Chartered accountant certificate in Form No. 15 CA & CB certifying that on remittance amount due taxes has been paid. However, repatriation out of the NRO account is restricted up to 1 million USD per financial year. .

Remittance under LRS scheme

Foreign remittance under liberalized remittance scheme (LRS) up to USD 250,000 USD per financial year can be freely made by the resident. Remittance under LRS is allowed for transaction only which are allowed under automatic route. The RBI prescribes separate limits for different type of the remittances.LRS limit of the USD250,000 is in addition to the limit prescribed. For remitting amount under LRS scheme 15CB certificate from chartered accountant and 15CA certificate will be required by the banker.

Remittance of Money from India

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