I am an NRI with some NRO and NRE accounts held in an Indian Bank.

I am trying to remit an amount from sale of a property for which TDS has already been paid. The amount was deposited to an account that has been held in my name. Will I be subject to this TCS Tax which seems to have been raised from 5% to 20% since July 2023 ?

1 Answer 1


No. NRIs and OCIs can repatriate upto USD 1 million without being subject to TCS. However, if a resident Indian is remitting money abroad, then they are subject to TCS.

Source: Multiple websites.

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