Repatriation of Income and Sale

Here are some notes about the repatriation of income and sale of assets in India:

• Repatriation of income: Repatriation of income refers to the process of transferring money earned in India back to the country where the taxpayer is resident. In India, the rules on repatriation of income are governed by the Foreign Exchange Management Act (FEMA).
• Sale of assets: The sale of assets in India can also be subject to restrictions, depending on the type of asset. For example, NRIs are not allowed to sell agricultural land in India.

Here are some specific details about the repatriation of income and sale of assets in India:

• Repatriation of income:
  • The following types of income can be repatriated from India:
    • Salary
    • Pension
    • Dividend
    • Interest
    • Rent
  • The amount of income that can be repatriated each year is subject to a limit. The current limit is USD 1 million per financial year.
  • To repatriate income, you will need to obtain a Remittance Authorization Form (RAF) from the Reserve Bank of India (RBI).
• Sale of assets:
  • The following types of assets can be sold in India and the proceeds repatriated:
    • Immovable property
    • Shares
    • Bank deposits
    • Insurance policies
    • Gold
  • There are some restrictions on the sale of assets in India, depending on the type of asset. For example, NRIs are not allowed to sell agricultural land in India.
  • To sell an asset in India and repatriate the proceeds, you will need to obtain a No Objection Certificate (NOC) from the RBI.

Here are some additional notes:

• The RBI may impose additional restrictions on the repatriation of income and sale of assets from time to time.
• You should check with the RBI in advance to see if there are any specific restrictions on the repatriation of income and sale of assets from India.