OCI / FEMA & RepatriationRNOR window, the 182-day test, asset migration and timing from your actual move date.
FEMA, not the OCI card, governs every rupee crossing your Indian bank. NRIs route Indian-source income through NRO, foreign earnings through NRE/FCNR, repatriate up to USD 1M per year via Form 145/146 (formerly 15CA/15CB), and redesignate accounts within 30 days of becoming resident. We architect, file and clean up past gaps.
Last reviewed: June 2026 · Updated for AY 2026-27
Regi Tom Antony, FCA — a practicing Chartered Accountant who advises NRIs, OCIs and returning founders on the same questions every week. Every page here is drawn from the book and live engagements, not stock copy.
Background reading Pair this engagement with the educational hub:
OCI & FEMA hub→Every deliverable, in writing.
Engagements end with a single document: your blueprint. It maps each action, the form it needs, the deadline, and who owns it.
- 01OCI-linked tax and FEMA position review
- 02NRE / NRO / FCNR account architecture
- 03Repatriation up to USD 1M per year — Form 145/146 (formerly 15CA/15CB)
- 04LRS planning for residents sending money abroad
- 05Inward FDI structuring for NRI investors
- 06Compounding applications for past defaults
- 07Returning-resident account redesignation
How we review a FEMA position
A FEMA review starts with status. Under FEMA you become a person resident outside India based on why and for how long you are abroad — not on the 182-day income-tax test. The two tests can give different answers in the same year, and your accounts must follow your FEMA status.
We then map every account and holding — savings, deposits, demat, mutual funds, property and loans — against what the rules allow an NRI or OCI to hold. Typical findings are resident accounts still operated after leaving India, Indian income credited to NRE, and folios with KYC that does not match the holder's status.
Repatriation and family remittances
NRE and FCNR balances are freely repatriable. Money in NRO accounts — rent, dividends, sale proceeds, inheritance — can be remitted up to USD 1 million per financial year, after tax, with Form 145 (formerly 15CA) and, where required, Form 146 (formerly 15CB). Resident family members sending money abroad to NRIs use the Liberalised Remittance Scheme, capped at USD 250,000 per financial year, where tax collected at source may apply.
Fixing past defaults
Where a contravention has already happened, voluntary compounding with RBI is usually the cleanest route. The application sets out the facts, the amounts involved and the corrective steps taken, and RBI levies a compounding amount instead of a penalty proceeding. We prepare the application, the supporting chronology and the corrected account structure.
Keep exploring.
Step-by-step ITR filing: forms, residential status, Schedule FA and refunds.
Slabs, capital-gains rates and the TDS that applies to NRI income.
Browse every NRI tax, FEMA and return guide.
Use the transition window before full Indian residency.
Tell us the situation. We'll send back the next step.
Two sentences is plenty for the first reply. Direct, written, by Regi.
Answered, candidly.
- Does my OCI status change Indian tax residency?
- Short answer: depends on residency, corridor and timing. Long answer is in the engagement — book a call to walk it through.
- Can I repatriate sale proceeds of inherited property?
- Short answer: depends on residency, corridor and timing. Long answer is in the engagement — book a call to walk it through.
- What's the cleanest way to move USD 250k home this year?
- Short answer: depends on residency, corridor and timing. Long answer is in the engagement — book a call to walk it through.
- Do I need Form 145/146 (formerly 15CA/15CB) for every transfer?
- Short answer: depends on residency, corridor and timing. Long answer is in the engagement — book a call to walk it through.
- I forgot to redesignate my NRE account — what now?
- Short answer: depends on residency, corridor and timing. Long answer is in the engagement — book a call to walk it through.
Next: Property & Inheritance
Property sale, lower-TDS certificate, capital gains and repatriation under FEMA.
NRI Taxation
Residency, ITR filing, TDS, DTAA, Schedule FA — for NRIs and OCIs based overseas.
Open →Property & Inheritance
Property sale, lower-TDS certificate, capital gains and repatriation under FEMA.
Open →Return Planning & RNOR
OCI status, PAN/Aadhaar, NRE-NRO routing and FEMA compliance for everyday moves.
Open →Ready to plan? Book a consultation with Regi.
A 15-minute NRI Tax Discovery Call to scope your situation and the right next step.
The NRI Blueprint briefing.
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