Our Money Repatriation Services include:
Capital Gains Tax Calculation
Calculate the capital gains tax applicable on the sale of the property. This tax depends on various factors such as the duration of ownership, property value, and exemptions available under Indian tax laws.
Bank Account
Non-Resident Ordinary (NRO) account needs to be opened if you don't have one already. This account allows you to manage your income earned in India.
Obtain Tax Clearance Certificate
If the property has been held for more than two years, you may need to obtain a tax clearance certificate from the Income Tax Department. This certifies that all taxes related to the sale of the property have been paid.
Repatriation
Repatriate the funds from the NRO account to your overseas account. However, there are limits to the amount that can be repatriated in a single financial year. Currently, the limit is $1 million per financial year for all bona fide purposes.
Obtain Documentary evidence for the Repatriation to start
Prepare the required documentation, including the sale deed, tax documents, and any other relevant paperwork related to the sale.
Proceeds Transfer
Transfer the sale proceeds from the sale of the property to the NRO account.
RBI Reporting
If the repatriation amount exceeds certain thresholds, it needs to be reported to the RBI through designated banking channels.
Compliance
Ensure compliance with all relevant regulations and laws governing repatriation of funds from India.
