How to initiate outward remittance from NRO account?

Is it possible to transfer money abroad from NRO account?

You are allowed to transfer money abroad from NRO account up to USD 1 million in a calendar year. Apart from USD 1 million limit, you can even send your current income like Rent, Dividend, Pension and Interest as outward remittance.

NRIs manage their expenses in India through two accounts- the Non Resident External (NRE) account and the Non Resident Ordinary (NRO) account. The NRE account is meant for transferring foreign earnings to India. On the other hand, NRO account is used to manage income earned in India.

How to transfer money in self overseas account from HDFC Bank NRO account? This is a common question many NRIs have.

To initiate outward remittance from your HDFC Bank’s NRO account to self account held in abroad, please keep the following documents ready -

1. Documentary evidence of source of funds
2. 15CA
3. 15CB - Form 15CB needs to be obtained from the chartered accountant
4. UDIN mandatory only if 15CA Part C is filled
   
   

Filling form 15CA: Filling form 15CA involves the following steps.

• Login to the Income Tax India website, www.incometaxindiaefiling.gov.in
• Input your User ID (PAN) and password
• After logging in go to the option- ‘E-file- Prepare and Submit Online Form (Other than ITR)’.
• Select form 15CA.
• You will find instructions to fill the form
• The form is in four parts- Part A, Part B, Part C and Part D.
• Complete filling the part that is applicable to you.
• Once you have filled up the form, verify and submit
• Click on the form and take a printout. Also take a printout of the acknowledgement slip.
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It is recommended that you get in touch with your Tax consultant in India to understand the different parts in form 15CA.

Click here to initiate outward remittance from your HDFC Bank’s NRO Account through our Paperless Digital journey. In case you have only NRE account with HDFC Bank then Click here to open NRO account instantly.

If you wish to open a new NRE and NRO account then Click here to Apply now!

​​​​​​​* The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances.