Selling a property in India and sending the proceeds abroad involves a few extra steps. None is complicated on its own, but the order matters.
The usual sequence
- Complete the sale and registration, and keep certified copies of the sale deed
- Pay or provision the applicable tax on the sale, and keep the proof
- Have a chartered accountant prepare the remittance certificates your bank asks for, such as Forms 15CA and 15CB
- Submit the documents to your authorised bank for the transfer
Things to confirm with your advisor
Rules on repatriation limits, eligible accounts and tax treatment can change, and they depend on how the property was acquired. Confirm the current position with a chartered accountant and your bank before you sign the sale agreement, not after.
Our NRI desk can coordinate the property side and introduce you to professionals for the tax and banking side.
