CA K Sanjay BhargavChartered Accountant
Open menu
← All articles

Repatriating money out of India: when you actually need a CA certificate

CA K Sanjay Bhargav, Chartered Accountant, Bengaluru

Membership No. 250054 · DISA (ICAI)

Published

Short answer: a chartered accountant's certificate is not required on every remittance. Under the renamed forms — Form 15CA is now Form 145, and Form 15CB is now Form 146 from 1 April 2026 — the certificate is needed on one part of four: where the sum is chargeable to tax in India and exceeds ₹5 lakh in the tax year. Everything else is a self-declaration.

Banks rarely put it that way. The usual message is that nothing moves until a CA has signed something, and for a great many remittances that is simply not what the rule says.

What the two forms are

They work as a pair, and the distinction is the whole point:

  • Form 145 (formerly 15CA) — your declaration, as the person remitting.
  • Form 146 (formerly 15CB) — a chartered accountant's certificate on the nature of the payment and its taxability.

The renaming took effect for remittances initiated on or after 1 April 2026, under the Income-tax Act 2025. The substance did not change. What changed is that most of the guidance you will find online — and some of the paperwork at the branch — still uses only the old numbers.

Which part applies to you

PartWhen it appliesForm 146 needed?
ARemittance ₹5 lakh or less in the tax yearNo
BYou hold an Assessing Officer's certificate under Section 195(2), 195(3) or Section 197No
CAbove ₹5 lakh and chargeable to taxYes
DNot chargeable to tax, whatever the amountNo

Two conditions have to be satisfied together before a certificate arises: the sum must be taxable, and it must be above the threshold. Fail either and you are in Part A, B or D.

The ₹5 lakh limit is an annual aggregate, not a per-transfer figure. Splitting one large remittance into several smaller ones does not keep you underneath it.

Some remittances are outside it altogether

There is a specified list of categories that require no filing at all, whatever the amount — among them personal travel, education abroad, maintenance of close relatives, medical treatment, and imports of goods. If your remittance falls within that list, neither Form 145 nor Form 146 arises.

That is worth checking first, because it disposes of a large share of ordinary family remittances before any question of a certificate comes up.

Moving your own money from NRO to NRE

The most common case, and the one where the misconception costs most.

Where the funds are your own after-tax money — a balance on which TDS has already been deducted, or income already offered to tax in an earlier year — the remittance is generally not chargeable to tax a second time. That points to Part D: a self-declaration, no certificate, whatever the amount.

The qualification matters, though. "My own money" is doing a lot of work in that sentence. Sale proceeds of a property, accumulated rent, and a maturing deposit are three different things with three different tax histories, and the bank will ask which it is. Where the character of the funds is genuinely mixed, or where the tax position of an earlier year was never settled, Part C and a certificate is the honest answer rather than the inconvenient one. If the underlying asset was never disclosed in a year you were resident, deal with that first — FAST-DS 2026 closes on 31 December, and repatriating ahead of it does not make the earlier omission go away.

The FEMA limit sits alongside, and is separate

Tax reporting is one gate. FEMA is the other, and people conflate them.

From an NRO account, up to USD 1 million per financial year may be repatriated for income that is non-current in nature — proceeds of an asset sale, most obviously. Income that is current in nature — rent, dividends, pension, salary — is repatriable without that cap.

The limit resets each financial year. If you are repatriating a large property sale, that reset is worth planning around rather than discovering in March.

Where this meets a property sale

This is the sequence that causes the most difficulty, because two separate things have to go right and they happen in a fixed order.

When an NRI sells property in India, the buyer must deduct TDS on the whole sale value, not on the gain — which is why a Section 197 lower-deduction certificate, obtained before the sale, is usually the single most valuable step available. That is set out in NRI property sale TDS.

Getting the money out afterwards is this article's subject. Note the connection: if you obtained a Section 197 certificate for the sale, the remittance falls in Part B — the officer has already determined the position, and no Form 146 arises. Doing the first step properly simplifies the second.

What to establish before you go to the bank

  1. What the money actually is — sale proceeds, rent, dividend, salary, a maturing deposit, or a mix.
  2. Whether it is chargeable to tax in India in your hands, now.
  3. Your aggregate remittance for the tax year so far, against the ₹5 lakh line.
  4. Whether you hold an Assessing Officer's certificate under Section 195(2), 195(3) or Section 197.
  5. Whether the category is on the specified exempt list at all.

Those five answers determine your part, and the part determines whether a certificate is needed. Going to the branch without them is how a Part D self-declaration turns into a fortnight of correspondence.

The statutory reference

Withholding on payments to non-residents moved from Section 195 of the 1961 Act to Section 393(2) of the Income-tax Act 2025. The reporting obligation behind these forms rests with the payer — which is why the bank, not you, is the one refusing to move until it is satisfied, and why arguing with the branch about your own tax position rarely works. Giving them the right part, correctly supported, does.

For how residency itself is determined, and what changed in the NRI chapter under the 2025 Act, see NRI taxation under the Income-tax Act 2025.

This is a working reference, not the statute. Thresholds and form numbering have both moved recently — confirm the current position before relying on it.

Frequently asked questions

Have Form 15CA and 15CB actually been renamed?

Yes. For remittances initiated on or after 1 April 2026, Form 15CA becomes Form 145 and Form 15CB becomes Form 146, under the Income-tax Act 2025. The substance is unchanged — Form 145 is your declaration, Form 146 is the chartered accountant's certificate — but a great deal of guidance online, and some bank staff, still use only the old numbers.

Do I always need a CA certificate before the bank will release funds?

No, and this is the most expensive misconception in the whole area. The certificate — Form 146 — is required for one part of the form only: where the remittance is chargeable to tax in India AND exceeds ₹5 lakh in the tax year. Below that threshold, or where the sum is not chargeable to tax at all, you are making a self-declaration rather than buying a certificate.

How do I know which part applies to me?

Four parts. Part A where the remittance is ₹5 lakh or less in the tax year — self-filed, no certificate. Part B where you already hold an Assessing Officer's certificate under Section 195(2), 195(3) or Section 197 — no Form 146 needed, because the officer has already determined the rate. Part C where the sum exceeds ₹5 lakh and is chargeable to tax — this is the only part requiring Form 146. Part D where the sum is not chargeable to tax at all — self-declared, whatever the amount.

Is the Rs 5 lakh limit per transfer or for the year?

For the tax year, in aggregate. Splitting a large remittance into smaller transfers does not keep you under it, and treating it as a per-transaction limit is a common and avoidable error.

I am moving my own money from NRO to NRE. Is that taxable?

Often not. Where the funds are your own after-tax money — a balance on which TDS has already been deducted, or income already offered to tax — the remittance is not chargeable to tax again, which points to Part D and a self-declaration rather than a certificate. That said, it depends on what the money actually is; sale proceeds and accumulated income are not the same thing, and the bank will ask.

Are some remittances outside this entirely?

Yes. A specified list of categories needs no filing at all, whatever the amount — personal travel, education abroad, maintenance of close relatives, medical treatment and imports of goods among them. Under the 1962 Rules that list sat in Rule 37BB; the 2026 Rules have renumbered elsewhere, so check the current rule rather than the old number. If your remittance falls in the list, neither form arises.

How much can I repatriate from an NRO account in a year?

Under FEMA, up to USD 1 million per financial year from an NRO account for non-current income — sale proceeds of assets, and similar. Income that is current in nature, such as rent, dividends, pension and salary, is repatriable without that cap. The limit resets each financial year, which matters if you are repatriating a large property sale.

What is the tax law reference now?

Withholding on payments to non-residents moved from Section 195 of the 1961 Act to Section 393(2) of the Income-tax Act 2025. The reporting obligation behind Forms 145 and 146 sits with the payer, which is why the bank will not release the funds until it is satisfied.

Repatriating a property sale or an NRO balance?

Send the source of the funds, the amount and the year they were taxed in. Which part of Form 145 applies, whether a Form 146 certificate is needed at all, and what the bank will ask for are established before you approach them.

Related service: NRI Taxation