Key takeaways
- NRO to Australia: up to USD 1 million a year after Indian tax, with Forms 145 and 146.
- No gift or inheritance tax in Australia; keep documents for large deposits.
- Indian interest, rent and gains go in your Australian return with an offset.
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India to Australia: what can go, and how
| Money in India | Can it go abroad? | Limit and paperwork |
|---|---|---|
| NRE or FCNR deposit | Yes, freely | No limit. No Indian tax on NRE interest |
| NRO balance: rent, dividends, pension, savings from before you left | Yes, after Indian tax | Up to USD 1 million per financial year, with Form 145 and usually a CA certificate in Form 146 |
| Sale of a flat or land | Yes, after TDS and tax | Within the USD 1 million. Proceeds of up to two homes bought with foreign money or NRE funds can go back up to the amount you paid. A lower TDS certificate (Form 128) stops excess TDS |
| Inheritance from parents | Yes | Within the USD 1 million, with the will or succession papers. India has no inheritance tax |
| Gift from your parents in India | Yes, they send it under LRS | Up to USD 250,000 per parent per year. TCS of 20% above ₹10 lakh, which they can adjust against their tax |
Australia to India: where to send it
| Send it to | Best for | Indian tax |
|---|---|---|
| NRE account | Savings you may want to take back later | Interest tax-free in India (but taxable where you live) |
| NRO account | Paying Indian bills, EMIs, joint use with Indian income | Interest taxable in India, TDS deducted |
| Your parents’ account | Supporting family | Gifts to relatives are not taxed in India |
| Property, mutual funds, shares | Investing in India through NRE or NRO | Gains taxed in India; NRIs cannot buy farm land |
What Australia taxes and checks
- No gift or inheritance tax: money your parents give you, or leave you, is not taxed in Australia. Keep the gift letter or will, because the ATO can ask where a large deposit came from.
- Worldwide income: Australian residents are taxed on NRE interest, Indian rent and Indian capital gains, with a foreign income tax offset for Indian tax.
- Indian property sale: the gain is in your Australian return too. The Indian TDS and tax become your offset.
- Banks report international transfers to AUSTRAC. That is routine; the papers from India explain the money.
FAST-DS check before 31 December 2026: if you were resident in India in any year while holding a foreign account, shares or RSUs, and they were not in Schedule FA, see FAST-DS for NRIs abroad.
Steps to send money from India
- Pay or settle Indian tax on the money (TDS on rent, interest or property sale).
- Move it to your NRO account if it is not there already.
- Get the CA certificate (Form 146) and file Form 145 online.
- Give your bank the forms, the source documents and its remittance request. It sends the money to your account abroad.
Related: repatriating money from an NRO account, NRE vs NRO vs FCNR, TDS on property sale by NRIs and the free transfer checker.
Sources
- RBI: Master Direction on remittance of assets (USD 1 million limit)
- RBI: FAQs on remittance of assets
- Australian Taxation Office
- AUSTRAC
Frequently asked questions
Is money from India taxable in Australia?
Gifts and inheritances are not taxed in Australia. Income from India, such as interest, rent and capital gains, is taxable for Australian residents, with a foreign income tax offset.
How much can I transfer from India to Australia?
Up to USD 1 million per financial year from NRO balances, property sale proceeds and inheritance, after Indian tax, with Forms 145 and 146. NRE balances have no limit.
Do I pay tax in both India and Australia on a property sale?
India taxes the gain first through TDS and your Indian return. Australia also taxes it if you are resident, but gives an offset for the Indian tax.
Is NRE interest taxable in Australia?
Yes, for Australian residents. It is tax-free only in India.
Please note: this guide is general information based on the rules as they stood on the review date above. Regulations and RBI/CBDT procedures change often — please get advice on your specific facts before acting.