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Annual repatriation limit
Sale of inherited property
USD 1 million
FEMA, 1999
Under FEMA, NRIs and OCIs may remit up to USD 1 million per financial year from the sale of inherited immovable property, subject to RBI documentation and tax clearance via Form 15CA/15CB.
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LTCG tax on inherited property
Held >2 yrs, NRI seller
12.5% + surcharge
Income Tax Act
Long-term capital gains apply once the combined holding period (original owner plus inheritor) crosses 24 months. Surcharge and a 4% health & education cess apply on top of the base rate.
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TDS deducted by buyer
On NRI property sale
Up to 20%
Section 195
Buyers must withhold TDS before remitting payment to an NRI seller. The rate varies with gain type and can be lowered with a certificate from the assessing officer (Form 13).
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Probate timeline
Contested will, metro courts
2–5 years
High Court Probate
Contested wills in metro High Courts (Mumbai, Chennai, Kolkata) often run for years due to caveat filings, witness examination, and appeals before a grant is issued.
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Succession certificate
Movable assets, no will
6–18 months
Succession Act
Needed to transfer bank accounts, shares, and other movable assets when there is no will. Timeline depends on court backlog and whether any relative contests the application.