Author: Ashutosh Finserv
Are you looking to build a successful Mutual Fund portfolio? Here’s a step-by-step approach to building, evaluating, and monitoring your investments effectively:
1️⃣ Analyzing Your Financial Profile
2️⃣ Selecting the Right Mutual Funds
3️⃣ Building a Well-Structured Portfolio
4️⃣ Continuous Portfolio Review
For detailed insights on Mutual Fund investing, watch our latest YouTube video by CA. CFP. Rajit Kothari : https://youtu.be/LGrRf7CwH88
➡️ Let us guide you through the journey of wealth creation with mutual funds!
📩 Contact us today for expert guidance on your investments and financial planning.
ASHUTOSH FINANCIAL SERVICES PVT. LTD.
▪ Investment ▪ Insurance ▪ NRI Services ▪ Income Tax & Estate Planning
📞 Contact: +91 73835 30919 / +91 93773 35959
📧 Email: relationship@ashutoshfinserv.com
🌐 Website: www.ashutoshfinserv.com
🔔 Stay informed! Follow us on Facebook, Instagram, LinkedIn, and YouTube for the latest updates and financial tips!
- Want to explore a potential goldmine of investment opportunities? Look no further! 📈✨ Ashutosh Finserv your trusted partner in unlocking the world of unlisted stocks! 💼💰 With our expert CA Rajit Kothari guidance and extensive market knowledge, we’ll help you navigate the uncharted waters of wealth creation. 💪💼
- Ready to make your money work harder for you? Take advantage of this exclusive chance to invest in promising unlisted stocks that have the potential to skyrocket your portfolio. 🚀💸
- Don’t miss out on this incredible opportunity! Reach out to us today and let us show you the path to financial success with Ashutosh Finserv. 💼💰
📊 INVESTMENT AVENUE : PORTFOLIO MANAGEMENT SERVICES(PMS) 📈.
Explore the domain of Portfolio Management Services (PMS) with CA CFP Rajit Kothari, as he imparts valuable insights into the art of maximizing returns in the stock market 📊💰.
📝 Get to know about PMS.
💰 Understand the advantages of investing in PMS over Mutual Funds.
🔍 Find out if PMS is the right investment avenue for you based on your risk appetite and investment objectives
🤝🏻 Join us for expert insights and practical tips on navigating the world of PMS and unlocking superior returns in any market cycle📈🌐.
*🎥Watch the YouTube video for detailed insights🎥:
▶️ For further details feel free to contact us📞.
Ashutosh Financial Services Pvt. Ltd.
▪Investments ▪Insurance ▪NRI Services ▪Income Tax & Estate Planning
www.ashutoshfinserv.com
Mobile📱: +917383530919 / +919377335959
Email✉️: releationship@ashtoshfinserve.com
Follow us using Ashutoshfinserv on Facebook 📘, Instagram 📷, YouTube 📹 & Linkedin 🔗 to receive all the latest information from the finance world 🌐.
📝 ESSENTIAL TIPS FOR FILING INCOME TAX RETURNS FOR FY 2023-24 📝
As we approach the tax season, it’s time to prepare for filing our Income Tax Returns for FY 2023-24🗓️. Here, CA. CFP. Rajit Kothari provides five essential pieces of advice to help you navigate 🧭the process smoothly and effectively:
🗓️ File within the due dates
📊 Match your income data
📄 Compare tax regimes
📝 Validate deductions with documentation
✔️ Complete required disclosures
🎥For detailed and more insights, watch our latest video:🎥
Ensure a thorough review of your return before submission, and seek professional assistance if needed.
Ashutosh Financial Services Pvt. Ltd.
▪Investments ▪Insurance ▪NRI Services ▪Income Tax & Estate Planning
📱Mobile No.: +91 93769 62244 / 70435 24242
📧 E-mail Id: lawserve@ashutoshfinserv.com
Follow us using Ashutoshfinserv on Facebook 📘, Instagram 📷, YouTube 📹 & Linkedin 🔗 to receive all the latest information from the finance world 🌐.
Are you an NRI 🌐 preparing to file your Income Tax Returns in India for FY 2023-24? Don’t miss this essential guide from CA. CFP. Rajit Kothari! In this video, we delve into five crucial tips to streamline your ITR filing process, ensuring accuracy and efficiency. Whether you’re a novice or seasoned in tax matters, these tips will help you navigate through the complexities of the Indian tax system.
🔹 Key Highlights:
👉🏻Understand the critical filing deadlines to avoid last-minute rushes.
👉🏻Learn how to accurately match your global income data with Indian tax records.
👉🏻Compare the benefits of the old vs. new tax regime to optimize your tax outgo.
👉🏻Ensure all your eligible deductions and necessary disclosures are accurately documented, enhancing compliance and minimizing errors.
For more insights watch the YouTube:
📢 Subscribe for more NRI-specific tax advice and updates. Like and share this video to help fellow NRIs navigate their tax filing seamlessly!
Ashutosh Financial Services Pvt. Ltd.
▪Investments ▪Insurance ▪NRI Services ▪Income Tax & Estate Planning
📱Mobile No.: +91 70 4308 8859 / +91 72 2884 8181
📧 E-mail Id: nris1@ashutoshfinserv.com
Follow us using Ashutoshfinserv on Facebook 📘, Instagram 📷, YouTube 📹 & Linkedin 🔗 to receive all the latest information from the finance world 🌐.
🎯Comprehensive video guide to Sovereign Gold Bonds 🎯
Understanding Sovereign Gold Bonds.
Reason to consider investing in Sovereign Gold Bonds.
Key features of Sovereign Gold Bonds.
Tax implication and benefits.
Advantage of opting for Sovereign Gold Bonds.
Why choose AshutoshFinserv for your investment needs
Watch our informative video now : https://youtu.be/Cc8U3O34rHA
Issue Period : February 12, 2024 to February 16, 2024
Price of SGB for series IV : Rs.6,213 per gram
Ashutosh Financial Services Pvt. Ltd.
•Investments •Insurance •NRI Services •Income Tax & Estate Planning
www.ashutoshfinserv.com
Mobile: +91 73835 30919 / 93773 35959
Email: info@ashutoshfinserv.com
Stay updated with latest financial insight by following AshutoshFinserv on Facebook , Instagram , YouTube , Twitter & LinkedIn.
⬛ Every individual/company/firm/HUF whose net tax liability on the estimated income exceeds INR 10000 for the financial year shall be required to deposit advance tax.
⬛ The deposit of tax shall be in four installments on the estimated net tax liability (after reducing taxes deposited/deducted/collected) which is calculated on the estimated income (after reducing deductions available under sec. 80C, 80D, etc.)
⬛ As per the Act, 75% of the estimated tax liability for the financial year (FY 2024-25) shall be deposited by December 15, 2024.
⬛ Additional interest of 1% per month shall be levied (section 234C) on the net tax liability on delay in payment and another 1% per month (section 234B) for non-payment of advance tax.
⬛ For resident senior citizens not having income from business & profession, advance tax shall not be applicable.
⬛ Deposit advance tax timely not only to avoid interest implications, but also to become a responsible citizen of the country. 🇮🇳
Contact us:
Income Tax & Estate Planning Services
Ashutosh Financial Services Pvt. Ltd.
•Investments •Insurance •NRI Services •Income Tax & Estate Planning
www.ashutoshfinserv.com
Mobile: +91 70430 88859 / +91 72288 48181
Email: info@ashutoshfinserv.com
Follow us using AshutoshFinserv at Facebook, Instagram, YouTube, Twitter & LinkedIn to receive all the latest information from the finance world.
📝 When choosing motor insurance, it’s crucial to be aware of the various ‘Add-Ons’ that can provide comprehensive protection for policyholders.
📍If a claim is filed and only basic insurance is in place, the insurance company may not cover many expenses. Therefore, selecting Add-On covers is essential for comprehensive protection ✅.
🔽 Below is a list of important ‘Add-Ons’ to consider: 🔽
🔹 Zero Depreciation 📉
🔹 Roadside Assistance🚨
🔹 Personal Accident Cover 💼
🔹 Engine Protection🔧
🔹 Key Replacement Cover🔑
🔹 Return to Invoice📄
🔹 Consumables Cover🛠️
🔹 Tyre Secure 🛞
🔹 Third Party Liability⚖️
🔹 No Claim Bonus Protection🛡️
🔹 Emergency Transport 🚑 & Hotel Expense🛌
🔹 Loss of Personal Belongings🎒
For more information and to explore the best motor insurance options tailored to your needs, contact:
ASHUTOSH FINANCIAL SERVICES PVT. LTD.
Investments • Insurance • Income Tax & Estate Planning • NRI Services
🌐Visit us : www.ashutoshfinserv.com
📱Contact: +91 9227896918
✉️ Email: rm.insurance@ashutoshfinserv.com
Please share this message with friends, relatives, and anyone who might benefit from this information . 💬
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📝 Disclaimer: Insurance is a subject matter of solicitation.
GIFT City represents a growing opportunity for NRIs🌐 offering tax-efficient investment solutions through India’s International Financial Services Hub. We are pleased to share an insightful presentation covering key aspects of this promising route.
Key topics covered:
📍 Introduction to the GIFT City ecosystem as an International Financial Services Hub.
📋 Panel discussion and insights from financial experts on the GIFT City route.
🔎 Detailed analysis of Indian equity investments in a tax-efficient manner for NRIs.
🗣️ Speakers:
➡️ Mr. Daxesh Kothari
Tax & Financial Consultant
MD & CEO of Ashutosh Financial Services Pvt. Ltd.
➡️ Mr. Rajit Kothari
Chartered Accountant & Certified Financial Planner
Executive Director of Ashutosh Financial Services Pvt. Ltd.
🎥 Watch the full presentation here: https://www.youtube.com/live/HaoxDtWHjFo?si=b57L-wjf1FaPIMav
For further details feel free to contact us.
Ashutosh Financial Services Pvt. Ltd.
▪️Investments ▪️Insurance ▪️NRI Services ▪️Income Tax & Estate Planning
www.ashutoshfinserv.com
📞 Mobile No.: +91 70430 88859 /+91 72288 48181
📧 E-mail Id: nris1@ashutoshfinserv.com
Follow us using Ashutoshfinserv on Facebook, Instagram, YouTube, Twitter & LinkedIn.
TAX AND INVESTMENT PLANNING THROUGH LIFE INSURANCE – UNDERSTAND THE TWO TECHNIQUES TO MAXIMISE RETURNS 📈 AND MINIMISE TAXATION 📉
✅ Guaranteed Tax-Free Income Planning: With premiums spread over 5-15 years, investors can enjoy tax-free💰guaranteed long-term income with customization for financial goals, and life insurance coverage⌛.
✅ Equity Oriented Investment via ULIPs: Unit Linked Insurance Plans (ULIPs) offer life insurance cover and exposure to the stock market🌐, akin to equity mutual funds, tapping into India’s growth story📈
Watch the YouTube video for detailed insights by CA CFP Rajit Kothari, Executive Director of Ashutosh Financial Services Pvt. Ltd.
For more information or any further help
Call us – +91 70438 93388 +91 92278 96918
Or
email us at – rm.insurance@ashutoshfinserv.com
Visit Website: https://ashutoshfinserv.com/
Follow us:
Instagram: https://www.instagram.com/ashutoshfin…
Facebook: https://www.facebook.com/ashutoshfinserv
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Are you worried about unexpected medical expenses?🩺💰
▶️ Look no further! In this informative video, we’ll delve into the world of health insurance, with a focus on the key features of different plans.
▶️ Our Executive Director – CA Rajit Kothari will break down the complexities and provide valuable insights and 5 essential tips on navigating the world of health insurance. 🩺💼
▶️ Whether you’re a first-time insurance buyer or looking to reassess your current policy, this video will equip you with the knowledge and tools necessary to make a well-informed decision.
💼 Discover our pro tips for comparing and choosing the perfect insurance plan for your needs!
👉Don’t let unexpected medical expenses drain your savings!💰
Contact us – +91-7043893388 / +91-6358755770
OR
Email us – rm.insurance@ashutoshfinserv.com
Follow us using Ashutoshfinserv at Facebook, Instagram , YouTube , Twitter & LinkedIn to receive all the latest information from finance world.
🔍Are you an NRI looking to secure your valuable Indian assets and ensure a lasting legacy?🌐
🏠 Discover the vital role of Wills for NRIs in securing your legacy.🏡💼
▶️ Our Executive Director – CA Rajit Kothari will simplify the complexities and highlight the significance of creating a Will for Non-Resident Indians.🌏
▶️ Learn about the key components of an NRI Will and why it’s essential for ensuring a smooth transition of your assets in the event of unforeseen circumstances. 🚀
👉Don’t miss this opportunity to safeguard your financial future! 💪💰
Contact us on: Mobile: +91 7228848181 / +91-7043593388
Email: nris1@ashutoshfinserv.com
Follow us using Ashutoshfinserv at Facebook, Instagram , YouTube , Twitter & LinkedIn to receive all the latest information from finance world.
🔍Are you ready to learn the best way to safeguard your wealth and secure your legacy through Wills?📜Look no further!
▶️ In this enlightening video, we delve deep into the best strategies to unlock the Power of Wills ensuring that your hard-earned wealth remains protected and seamlessly transferred to your loved ones.
▶️Our expert – CA Rajit Kothari will walk you through critical aspects of Will preparation, guiding you through the essentials for a secure and successful succession plan.🚀
🌟Empower your knowledge to make informed decisions about your financial legacy
🤝 Have questions or need guidance on crafting your own Will? Reach out to us!
For more information or any further help:
Call us : +91 9376962244/+91 7043524242
OR
Email us : lawserve@ashutoshfinserv.com
Follow us using Ashutoshfinserv at Facebook, Instagram , YouTube , Twitter & LinkedIn to receive all the latest information from finance world.
Are you an NRI (Non-Resident Indian) looking to invest and secure your future in India? 🌍✈
- Look no further! In this informative video, we bring you the best investment and insurance options tailored specifically for NRIs in India.
- Our expert – CA Rajit Kothari will walk you through various investment avenues, such as equity mutual funds, unlisted stocks, portfolio management, and many more, that offer attractive returns and stability. Moreover, we will shed light on the importance of insurance for NRIs.
- Whether you’re a seasoned investor or looking to diversify your portfolio, this video will equip with valuable insights and tips to make sound financial decisions. We understand the unique challenges and opportunities that NRIs face, and our goal is to empower you with the knowledge to make smart financial choices.
- Don’t miss out on the incredible opportunities that India has to offer! Join us as we unlock the lucrative opportunities awaiting for NRIs and help you build a secure financial future.
Are you an NRI ?🌍✈
Seeking clarity on the complex landscape of financial laws and regulations? Look no further!- In this comprehensive video, we delve into the world of Financial Laws applicable to NRIs, offering you valuable insights and guidance.
- Navigating financial matters as an NRI can be overwhelming, but our Executive Director – CA Rajit Kothari will break down the intricacies of these laws, empowering you to make informed decisions about your financial assets, investments, and transactions.
- Join us as we explore the various financial laws and regulations that NRIs need to be aware of. Don’t miss out on this essential knowledge that can pave the way for your financial success as an NRI.
How to Choose the Best Health Insurance Plan?
Our Executive Director – CA Rajit Kothari will sheds light on why health insurance should be a top priority for everyone. 👉🏻In an unpredictable world where medical emergencies can strike at any moment, having health insurance is like having a safety net. 👉🏻It provides you with the peace of mind that you and your loved ones will receive the necessary medical attention without the burden of exorbitant expenses. 👉🏻By investing in health insurance, you are protecting your savings and ensuring that you can maintain your financial well-being even in the face of medical emergencies. Take charge of your health and secure your future today. Subscribe to our channel for more informative content. Contact us – +91-7043893388 / +91-6358755770 OR Email us – rm.insurance@ashutoshfinserv.com Follow Us on: Instagram: https://www.instagram.com/ashutoshfinserv/ Facebook:https://www.facebook.com/ashutoshfinserv LinkedIn: https://www.linkedin.com/company/1798… Twitter: https://twitter.com/AshutoshFinserv
- Are you ready to retire in style? In this exciting video, CA Rajit Kothari will be revealing a powerful retirement planning strategy that will ensure you can enjoy the golden years of your life worry-free. Say goodbye to financial stress and hello to financial freedom with the systematic withdrawal plan. Join me as we dive deep into this game-changing strategy of SWP ( systematic withdrawal plan ) that has helped countless individuals retire comfortably and confidently. Don’t miss out on this opportunity to secure your future and live the life you’ve always dreamed of. Let’s embark on this exciting journey together!
- With so many myths and misconceptions about investing in Mutual Funds, it’s hard to know what’s true and what’s not. In this video, CA Rajit Kothari is going to bust the myths and help you discover the relevant truths about investing in Equity Mutual Funds. He will also discuss some important tips on how to get started and make the best out of your investments. Get ready to learn everything you need to know about investing in equity mutual funds!
- Are you looking for ways to optimize your tax savings? In this video, we will learn one of the best practices and effective tax planning strategies that many successful people have been using for years. We’ll show you step-by-step how you can effectively utilize the tax benefits of a HUF (Hindu Undivided Family) creation and be in control of your finances. Don’t miss out on this valuable information that could save your lots of money in taxes.
- Choosing the right life insurance can be a daunting task, but with these 3 tips can make your selection process easier and ensure you to get the best coverage for your needs.
- Our Executive Director – CA Rajit Kothari will share their experience and knowledge, shedding light on essential factors to consider before making a decision for the proper selection of life insurance.
- Whether you’re a first-time life insurance buyer or looking to reassess your current policy, this video will equip you with the knowledge and tools necessary to make a well-informed decision.
- Don’t leave the future of your loved ones to chance – join us and learn the 3 essential tips before selecting life insurance.👉🏻 Please find the below link for the above topic.
▶️ The Indian Stock Market is promising, but why stop there? 🌐
▶️ It is always worthwhile to become a global investor to avoid single-country & single currency risks.🇮🇳💲
👉🏻Become a global investor and explore new opportunities! 🌐✨
🔗 Ready to explore the U.S. markets? Look no further! Check out our platform:
https://ashutoshfinserv.vested.co.in/
A Service of:
ASHUTOSH FINANCIAL SERVICES PVT. LTD.
•Investments •Insurance •Income Tax & Estate Planning •NRI Services
Mob. No. : +91 9377335959 /+91 7383530919
Email: releationship@ashutoshfinserv.com
www.ashutoshfinserv.com
Follow us using Ashutoshfinserv on Facebook, Instagram, YouTube, Twitter & LinkedIn.
ACT FAST ⏩TO AVAIL FOLLOWING DEDUCTIONS… 📈
✨Attractive investment options available for tax deduction:✨
➡️ Invest in Equity Linked Savings Scheme (ELSS) of Mutual Funds for attractive returns 📊 along with obtaining a deduction under Income Tax up to Rs.1.50 lakhs (80C).
➡️ Invest in the National Pension Scheme to obtain additional deduction of Rs.50000 (80CCD).
💫Attractive insurance options available for tax deduction: 💫
➡️ Insure yourself and your family (spouse and children 👨👩👧👦) through a Life Insurance Policy to obtain a deduction of the premium paid up to Rs.1.50 lakhs (80C).
◾Insurance Policy with assured tax-free returns in the range of 6-7% along with free insurance for long periods of up to 50 years for a deduction under Income Tax up to Rs.1.50 lakhs (80C).
➡️ Insure with a Health insurance policy for yourself and your family (parents, spouse, and dependent children) to obtain a deduction of the premium paid up to Rs.25000 or Rs.50000 in case of senior citizens (80D).
🔷 Most of the above deductions are available under the old regime of taxation. We can prepare a comparative analysis 📈 under both regimes to analyze the beneficial regime and whether it is worthwhile claiming the deductions.
ASHUTOSH FINANCIAL SERVICES PVT. LTD.
•Investments •Insurance •Income Tax & Estate Planning •NRI Services
www.ashutoshfinserv.com
Mobile: +91 72288 48181/ +91 70435 93388
Email: nris1@ashutoshfinserv.com
PLEASE FORWARD this message to your friends, relatives, and contacts who could be interested.
🎯Follow us using AshutoshFinserv on Facebook, Instagram, YouTube, Twitter & LinkedIn to receive all the latest information from the finance world.🎯
ACT FAST ⏩TO AVAIL FOLLOWING DEDUCTIONS… 📈
✨Attractive investment options available for tax deduction:✨
➡️ Invest in Equity Linked Savings Scheme (ELSS) of Mutual Funds for attractive returns 📊 along with obtaining a deduction under Income Tax up to Rs.1.50 lakhs (80C).
➡️ Invest in the National Pension Scheme to obtain additional deduction of Rs.50000 (80CCD).
💫Attractive insurance options available for tax deduction: 💫
➡️ Insure yourself and your family (spouse and children 👨👩👧👦) through a Life Insurance Policy to obtain a deduction of the premium paid up to Rs.1.50 lakhs (80C).
◾Insurance Policy with assured tax-free returns in the range of 6-7% along with free insurance for long periods of up to 50 years for a deduction under Income Tax up to Rs.1.50 lakhs (80C).
➡️ Insure with a Health insurance policy for yourself and your family (parents, spouse, and dependent children) to obtain a deduction of the premium paid up to Rs.25000 or Rs.50000 in case of senior citizens (80D).
🔷 Most of the above deductions are available under the old regime of taxation. We can prepare a comparative analysis 📈 under both regimes to analyze the beneficial regime and whether it is worthwhile claiming the deductions.
ASHUTOSH FINANCIAL SERVICES PVT. LTD.
•Investments •Insurance •Income Tax & Estate Planning •NRI Services
www.ashutoshfinserv.com
Mobile📱: +91 73835 30919 / 93773 35959
Email 📧 : relationship@ashutoshfinserv.com
PLEASE FORWARD this message to your friends, relatives, and contacts who could be interested.
🎯Follow us using AshutoshFinserv on Facebook, Instagram, YouTube, Twitter & LinkedIn to receive all the latest information from the finance world.🎯
⬛ Every Non Resident Indian whose net tax liability on the estimated income exceeds INR 10000 for the financial year shall be required to deposit advance tax.
⬛ The deposit of tax shall be in four instalments on the estimated net tax liability (after reducing taxes deposited/deducted/collected) which is calculated on the estimated income (after reducing deductions available under sec. 80C, 80D, etc.)
⬛ As per the Act, 100% of the estimated tax liability of the financial year shall be deposited by March 15 , 2024.
⬛ Additional interest of 1% per month shall be levied under section 234C on the net tax liability on delay in payment of the tax.
⬛ Deposit advance tax timely not only to avoid interest implications, but also to become a responsible & proud Indian. 🇮🇳
NRI Services
Ashutosh Financial Services Pvt. Ltd.
www.ashutoshfinserv.com
Mobile: +91 72288 48181/ +91 70435 93388
Email: nris1@ashutoshfinserv.com
Follow us using Ashutosh_NRI_FinTax at Facebook, Instagram, YouTube, Twitter & LinkedIn to receive all the latest information from finance world.
⬛ Every individual/company/firm/HUF whose net tax liability on the estimated income exceeds INR 10000 for the financial year shall be required to deposit advance tax.
⬛ The deposit of tax shall be in four instalments on the estimated net tax liability (after reducing taxes deposited/deducted/collected) which is calculated on the estimated income (after reducing deductions available under sec. 80C, 80D, etc.)
⬛ As per the Act, 100% of the estimated tax liability of the financial year (FY 2023-24) shall be deposited by March 15, 2024.
⬛ Additional interest of 1% per month shall be levied (section 234C) on the net tax liability on delay in payment and another 1% per month (section 234B) for non-payment of advance tax.
⬛ For resident senior citizens not having income from business & profession, advance tax shall not be applicable.
⬛ Deposit advance tax timely not only to avoid interest implications, but also to become a responsible citizen of the country. 🇮🇳
Contact us:
Income Tax & Estate Planning Services
Ashutosh Financial Services Pvt. Ltd.
•Investments •Insurance •NRI Services •Income Tax & Estate Planning
www.ashutoshfinserv.com
Mobile: +91 93773 35959 / 73835 30919
Email: vrm@ashutoshfinserv.com
Follow us using AshutoshFinserv at Facebook, Instagram, YouTube, Twitter & LinkedIn to receive all the latest information from finance world.
✅ NRIs residing in USA 🇺🇲or Canada🇨🇦 need to report their Indian Incomes & Assets in their Income Tax Returns along with other local USA or Canadian Incomes as per tax laws of respective countries. However, they are eligible to obtain tax credits for the taxes paid in India under the DTAA (Double Taxation Avoidance Agreement) while settling the final tax liabilities. 📑
✅ We are pleased to provide you with a Comprehensive Indian financial information summary essential in USA or Canada to assist you in meeting the necessary requirements for tax filings 📝 in USA and Canada, ensuring compliance with relevant regulations, and facilitating a smooth process with the deadline for tax filings by April in USA or Canada. 🗓️
✅ Our report includes all details of your Indian incomes from various sources as well as assets as per the respective tax laws of USA or Canada, meticulously converted into the respective currencies (USD or CAD) for the corresponding tax year which runs from January to December. It also includes the amount of Indian taxes available for claiming credit under the DTAA. 💰
✅ It is a very supportive databank which makes it very convenient for the NRI to incorporate all Indian financial transactions in a seamless manner as per the tax return formats of respective countries. 🌏
✅ Exchange of Financial Information between tax authorities of countries has become very common these days with the advent of technology and rising vigilance of tax administration in all countries. 🔄
Contact us to avail this report related to International Tax Compliance to become a compliant taxpayer. 🌐:
Mobile No.📱 : +91-72288 48181 / +91-70435 93388
E-mail Id 📩: nris1@ashutoshfinserv.com
Visit us 🔗 : www.ashutoshfinserv.com
Follow us using Ashutoshfinserv at Facebook, Instagram, YouTube, Twitter & LinkedIn to receive all the latest information from the finance world. 📈🌍
INVEST IN 54EC BONDS TO SAVE CAPITAL GAINS TAX BEFORE THE END OF THIS FINANCIAL YEAR 📈
▶️ Any individual is liable to pay tax on capital gains arising from sale of any assets as per the Income Tax Law.
▶️ Any capital gains arising on sale of any immovable property held for more than two years would qualify as long term capital gains.
▶️ Under section 54EC of the Income Tax Act, the gains if invested in notified bonds within a period of 6 months of sale would qualify for exemption from capital gains tax.
▶️ The exemption on such notified bonds of the Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) is available up to INR 50 lakhs.
▶️ The bonds issued after 1st April 2023 pay an interest of 5.25%p.a. which is taxable are for a term of five years.
▶️ Any individual investing in such bonds effectively earns 10.85%p.a. CAGR (Compounded Annual Growth Rate) across a tenure of 5 years considering the capital gain tax saving and interest from such investment.
Download pdf for 54EC Bonds calculation
Are you ready to take your investment strategy to the next level? Here’s how you can combine the stability of NRE Fixed Deposits with the growth potential of Equity Mutual Funds in just 3 simple steps:
1.) Investing in NRE Fixed Deposits for a Duration of 5 Years
2.) Select the option for receiving annual interest payments.
3.) Invest the interest earnings annually into equity funds through monthly SIPs.
Ready to embark on your investment journey? Watch our detailed guide on YouTube to learn more about combining NRE Fixed Deposits and Equity Mutual Funds for a winning investment strategy
Don’t miss out on this opportunity to diversify your portfolio and achieve your financial goals with confidence!
Ashutosh Financial Services Pvt. Ltd.
•Investments •Insurance •NRI Services •Income Tax & Estate Planning
www.ashutoshfinserv.com
Mobile: +91 72288 48181/+91 70435 93388
Email: nris1@ashutoshfinserv.com
Follow us using Ashutoshfinserv at Facebook, Instagram, YouTube, Twitter & LinkedIn to receive all the latest information from finance world
🎯Comprehensive video guide to Sovereign Gold Bonds 🎯
* Understanding Sovereign Gold Bonds.
* Reason to consider investing in Sovereign Gold Bonds.
* Key features of Sovereign Gold Bonds .
* Tax implication and benefits.
* Advantage of opting for Sovereign Gold Bonds .
* Why choose AshutoshFinserv for your investment needs.
Issue Period : February 12, 2024 to February 16, 2024
Price of SGB for series IV : Rs.6,213 per gram
Ashutosh Financial Services Pvt. Ltd.
•Investments •Insurance •NRI Services •Income Tax & Estate Planning
www.ashutoshfinserv.com
Mobile: +91 73835 30919 / 93773 35959
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What is the importance & role of a ‘Comprehensive Financial Inventory’?
✅ We know the importance of preparation of a WILL for legal transfer of assets to our successors. Comprehensive Financial Inventory helps in making this process of transfer seamless and convenient.
✅ A WILL alone, may not be enough to carry out the entire transfer process without several essential data as included in this ‘Comprehensive Financial Inventory.’
✅ It is a one stop inventory for the successors to avail all the necessary financials as well as personal information of an individual in the event of disability or death.
✅ Please follow this link to view and download for free.
✅ You can prepare the data on your own.
🎯 You can also avail our professional services to prepare the ‘Comprehensive Financial Inventory.’ 🎯
✅ The information in the Comprehensive Financial Inventory in many cases requires customization (data prepared according to the need of the individual), time and efforts to prepare and update the information for which our services can be availed.
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🔸 GOLDEN OPPORTUNITY FOR LIFELONG ATTRACTIVE GUARANTEED INCOME WITH FREE LIFE INSURANCE COVER 🔸
▪️ What is Guaranteed Insurance Plan❓
▪️ Why one should have Guaranteed Income Insurance Plan in the financial portfolio❓
▪️ Why is it a golden opportunity at present to consider as an investment option❓
▪️ Where should you buy such plan from❓
👉🏻 Please find the below link for the above topic.
For further details feel free to contact us.
Ashutosh Financial Services Pvt. Ltd.
▪️Investments ▪️Insurance ▪️NRI Services ▪️Income Tax & Estate Planning
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🔗 Is it mandatory for NRIs to link Aadhaar with PAN? 🔗
As per Section 139AA and Notification No. 37/2017 of the Income Tax Act, every person who is eligible to obtain Aadhaar shall link the same with PAN on the Income Tax portal.
Further, an NRI under the Income Tax Act who does not possess an Aadhaar Card shall not be required to link as per the relevant notification.
Steps to link Aadhaar with PAN are mentioned in Q3. of the following FAQ link:
https://www.incometax.gov.in/iec/foportal/help/e-filing-link-aadhaar-faq
However, an NRI who has obtained an Aadhaar Card at anytime is mandatorily required to link with PAN on or before 31st March 2023 to avoid any further consequences.
For further details feel free to contact us.
Ashutosh Financial Services Pvt. Ltd.
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🔸 GOLDEN OPPORTUNITY FOR NRIs TO EARN LIFELONG ATTRACTIVE GUARANTEED INCOME WITH FREE LIFE INSURANCE COVER 🔸
▪️ What is Guaranteed Insurance Plan❓
▪️ Why an NRI should have Guaranteed Income Insurance Plan in the financial portfolio❓
▪️ Why is it a golden opportunity for NRIs at present to consider as an investment option❓
▪️ Where should you buy such plan from as an NRI❓
👉🏻 Please find the below link for the above topic.
For further details feel free to contact us.
Ashutosh Financial Services Pvt. Ltd.
▪️Investments ▪️Insurance ▪️NRI Services ▪️Income Tax & Estate Planning
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ARE YOU AN NRI CONFUSED ABOUT YOUR INDIAN INCOME TAX RESIDENTIAL STATUS?
👉 Determining the Income Tax Residential Status is a technical matter as various conditions must be considered. The status determines the scope and extent of taxation in India for any taxpayer.
➡️ We have prepared a Residential Status Calculator covering all the required conditions of the Indian Income Tax law . It takes only a few steps for an NRI to determine the residential status using our easy to use tax status calculator.
Click on our website link provided below to determine your Residential Status through the calculator:
NRI Tax Status CalculatorFor further details feel free to contact, Mobile No.: 72288 48181 / 70435 93388 E-mail Id: nris1@ashutoshfinserv.com www.ashutoshfinserv.com Follow us using Ashutoshfinserv at Facebook, Instagram, Youtube, Twitter & Linkedin.
LAST CHANCE TO INVEST IN TAX FREE INSURANCE POLICY ABOVE Rs. 5 LAKHS (TAXABLE FROM 1ST APRIL 2023) WITH ATTRACTIVE GUARANTEED RETURNS – Compare and avail the best policy from us
➡️ Currently, maturity proceeds of Life Insurance policies are tax free if annual premium is at least 10% of the Death benefit of the policy.
➡️ From 1st April, 2023, the maturity proceeds received during the lifetime will become taxable for those policies whose premium exceeds INR 5 lakhs per annum.
➡️ GUARANTEED INSURANCE INCOME PLANS offer flexibility in premium payments and in receiving maturity proceeds in predetermined manner.
➡️ Income Tax deduction under Section 80C of Rs. 1.5 lakhs are also available on premiums paid.
➡️ TAX FREE ASSURED RETURN in the range of 6% to 7% over and above the LIFE INSURANCE benefit is available.
👉 Grab the chance to avail this beneficial option before 31st March, 2023. Contact us for better understanding
◾We offer insurance plans of many companies and suggest best plan suitable for you after comparing the plans of all Insurance Companies as per your requirement. Contact us at the earliest
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Ashutosh Financial Services Pvt. Ltd.
•Investments •Insurance •NRI Services •Income Tax & Estate Planning
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Insurance is a subject matter of solicitation.
INVEST IN UNLISTED SHARES OF NSE (NATIONAL STOCK EXCHANGE OF INDIA LTD.)- OPPORTUNITY TO INVEST IN ONE OF THE LARGEST STOCK EXCHANGES OF THE WORLD 📈📊📉
▶️ Grab the unique opportunity to invest in the unlisted stocks of NSE of India Ltd. available with us.
▶️ To have a detailed understanding of the company, download the PDF file attached.
▶️ To watch a explanatory video on the subject click the following link:
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Disclaimer: We do not intend to provide any investment advice in any manner through the above message. It is only a knowledge-sharing exercise in good faith.
CAPITAL GAIN 54 EC BONDS OFFER 10.56% EFFECTIVE RETURN TAKING INTO CONSIDERATION THE INCOME TAX SAVINGS. INFORMATIVE ANALYSIS. 📈
When there is an income of long term Capital gains, investors always are in a dilemma whether to invest in Capital Gain Bonds under section 54EC or to pay tax and invest elsewhere. Following is an informative analysis in this regard.
▶️ Any individual is liable to pay tax on *capital gains arising from sale of any assets* as per the Income Tax Law.
▶️ Any capital gains arising on sale of any immovable property held for *more than two years* would qualify as *long term capital gains*.
▶️ Under *section 54EC* of the Income Tax Act, the gains if invested in notified bonds *within a period of 6 months* of sale would qualify for *exemption from capital gains tax. *
▶️ The exemption on such notified bonds of the *National Highways Authority of India (NHAI)* and *Rural Electrification Corporation (REC)* is available up to *INR 50 lakhs. *
▶️ The bonds pay an *interest of 5%p.a.* which is taxable are for a term of *five years. *
▶️ Any individual investing in such bonds *effectively earns 10.56%p.a. CAGR* (Compounded Annual Growth Rate) across a *tenure of 5 years* considering the capital gain tax saving and interest from such investment. The working for the same is shared below.
▶️ *Hence, an investor should compare the return from other investment avenues with the above rate while analyzing to choose the investment option.*
*Ashutosh Financial Services Pvt. Ltd.
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Transfer of funds from NRO A/c to NRE A/c & Repatriation of funds out of India
There are several questions in the minds of NRIs concerning transfer of funds outside India.
➡️ Can we transfer funds which are standing as a credit in my NRO A/c into either NRE A/c or outside of India❓
➡️ What are the benefits of transferring funds from NRO A/C to NRE A/c or out of India❓
➡️ Is there any limit for transfer directly outside India or from NRO to NRE bank account by on NRI❓
The video provides a detailed understanding on the subject by Mr. Daxesh Kothari (Tax & Financial Consultant and MD & CEO of Ashutosh Financial Services Pvt. Ltd.)
👉 Please find the below link for the above topic.
For further details, feel free to contact us.
NRI Services
Ashutosh Financial Services Pvt. Ltd.
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INSURE YOURSELF WITH LIFE INSURANCE TERM PLAN BEFORE PREMIUM RATES INCREASE 📈
Life insurance Term Plan is an insurance where you receive life insurance cover at a reasonable premium amount. It is a pure form of life insurance.
Reasons for the term insurance policy likely to get costlier soon:
◾ As uncertainties continue to rise in the wake of the new Omicron variant, having a life cover is becoming more important than ever. Term plan is a necessity and should always be a part of overall financial planning”
◾ Reinsurers have revised their premiums upward. This is the premium which life insurers have to pay for re-insuring their risk.
◾ The number of death claims settled recently by the Insurance companies are much higher in compare to previous years, the burden of which will be passed to the customer by the insurance companies.
◾ Today Term Plan is not only a tool for tax savings, but also for financial security of the family in absence of breadwinner of the family. Hence, even a young and healthy earning individual should buy Term Plan immediately before Term Plan premiums are increased.
◾ We offer insurance plans of many companies and suggest best plan suitable for you after comparing the plans of all these companies as per your requirement. Contact us to get the best insurance plan for you.
Ashutosh Insurance Brokers LLP
•Insurance for your Life, Health, Assets & Liabilities
•Retirement Planning
•Investment through Life Insurance
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PMS in India
India is the land of opportunities for all global investors. Naturally, NRI investors are looking towards investing in India. There are various investment options for NRIs in India. However, one investment option NRIs tend to favour is Portfolio Management Services. PMS in India is one of the most preferred investment options of the NRI. With India’s economy booming, the Indian stock market will grow and create wealth. However, investing directly in stocks is tedious due to the need for research and analysis. However, a team of professionals, including a fund manager, does the research and analysis in a PMS.
The NRIs are already pouring billions of dollars into Indian equities every year. An NRI should invest in PMS in India to take advantage of the upcoming economic boom. An NRI can trust the fund manager’s expertise in a PMS to generate superior returns. Finally, investing in PMS in India can help NRIs take advantage of the favourable tax treatment often available. Investing in a PMS in India enables NRIs to diversify their investment portfolio and earn higher returns.
How can an NRI Invest in a PMS in India?
An NRI must go through the Portfolio Investment Scheme (PIS) route to invest in PMS in India. Portfolio Investment Scheme (PIS) is a scheme that allows NRIs to invest in the Indian stock market through a designated bank account. PIS will enable NRIs to invest in various financial instruments, such as equities, debt instruments, and mutual funds, subject to specific regulatory guidelines and restrictions.
Under the PIS, NRIs have to open a PIS account with an Indian bank in India and deposit foreign currency. The NRI can then use these funds to buy securities in the Indian stock market. The bank acts as an intermediary between the NRI investor and the Indian stock exchange, allowing NRIs to invest in Indian securities without opening a local trading account.
PIS offers NRIs several benefits, such as the ability to invest in a wide range of securities, easy access to funds, and professional management of their investments. It also allows NRIs to diversify their investment portfolio and capitalize on the growth potential of the Indian economy.
Why Should an NRI Invest in PMS in India?
- Diversification: Investing in a PMS in India can provide an NRI with additional diversification in their investment portfolio. By investing in a PMS, they can gain exposure to a broader range of asset classes and investment opportunities in India. A PMS also has many categories like large cap, mid cap, small cap, multi-cap, etc.
- Professional management: Professional Fund Managers with years of experience in the Indian Financial Markets manage PMS investments. Therefore an investment in PMS in India would enable the NRI to take advantage of the professional fund manager’s expertise for their investment.
- High potential returns: The Indian economy has strong growth potential, and investing in a PMS can allow NRIs to capitalize on this growth. The PMS is the right investment option for an NRI willing to take advantage of the upcoming economic growth of India.
- Rupee Appreciation: NRIs who invest in a PMS in India can benefit from the potential appreciation of the rupee against their home currency. This can help them increase their returns and better achieve their financial goals.
Key Benefits of Portfolio Management Services Over Mutual Funds:
- Lesser Restrictions: Compared to mutual funds, Portfolio Management Services have fewer restrictions. Mutual funds in India are supposed to follow the sectoral cap restrictions based on the nature of the underlying scheme. Whereas for PMS in India, there are no such strict rules for sectoral caps while investing. This enables the PMS to invest more appropriately in various sectors as per the prevailing economic situation.
- Unaffected By Inflows & Outflows: Another critical feature of a PMS in India is that it is unaffected by the inflows & outflows of the scheme. Whereas in mutual funds, every investor’s value is affected by the inflows and outflows in the scheme. In a PMS in India, the NRI’s investment is held in their Demat accounts and hence remains unaffected by the inflows and outflows of the scheme.
- Taxation Benefits: The notional gains made on a mutual funds investment of a US-based NRI is taxable in the united states. However, no such tax is charged on the notional gains made on an NRI’s PMS investment in India. Therefore it is beneficial for an NRI to invest in a PMS in India.
How Can We Help You?
Ashutosh Financial Services is a professional financial company. We have been serving the NRI’s requirements for 20+ years. Our team consists of professionals with years of experience in handling the intricacies of an NRI investment. We have a custom process for an NRI’s PMS investment in India. Our custom process will ensure a simple and streamlined investment process for the NRI.
At Ashutosh Financial Services, we put utmost importance on Preliminary Discussion. In the preliminary discussion, we discuss your investment objectives and expected returns. We modify your investment objectives based on your risk appetite to protect your investment. We also collect your basic details to work up your risk profile. Risk profiling helps us in selecting the ideal PMS for your investment.
All this data and the necessary details are then given to our in-house Research & Department. This department will select the ideal scheme for your PMS investment in India. It considers your investment objectives, expected returns, and risk appetite before finalizing a PMS. Moreover, our in-house research and analysis department also tracks and monitors the performance of all the PMS in India. We also track every PMS fund manager’s investing style and pick the one that suits your investment objectives perfectly.
Once the Research & Analysis Department selects the PMS, we shall approach you with all the necessary documents. We shall also discuss your investment’s tax implications and ways you can legally save taxes. We also assign a relationship manager to guide you through the entire process. The said relationship manager will assist you even with your further needs.
At Ashutosh Financial Services, we review your investments periodically. With it, we try to ensure that your scheme performs as per your objectives. If the current scheme underperforms, we shall inform you about the need to change the scheme. The timely changing of the scheme will ensure that your investment objectives are satisfied.
At Ashutosh Financial Services, we provide you with quality & unbiased services for all your needs. We provide a wide range of NRI services like NRI Investments, NRI Insurance, & NRI Banking. We also provide various NRI Income Tax Compliance Services through our separate tax department. In our bid to provide one-stop financial services to the NRIs, we provide the NRIs with Foreign Tax Compliance Services.
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Can NRI Buy Property In India?
Yes, an NRI / OCI can buy properties in India. The purchase and sale of immovable assets in India by non-resident Indians (NRIs) is under the purview of the Foreign Exchange Management Act (FEMA) and is administered by the Reserve Bank of India (RBI). An NRI is an Indian citizen who is a resident outside India, according to FEMA. An OCI (overseas citizen of India) is a Non-Indian citizen who or whose parents or grandparents were born in India. NRIs & OCIs are treated the same for investment in real estate. Therefore we will address them as NRIs going forward.
Should an NRI Buy Property In India?
All NRIs know that India is one of the fastest-growing economies in the world. Its Real Estate Sector contributes around 10% to the country’s GDP. With the Indian government looking to spend billions of dollars more on developing infrastructure, the growth of the Indian Real Estate Sector is not stopping. Investment in the real estate sector is one of the safest options for investment for an NRI in India.
However, a shift is being seen in NRI investments in India. The NRIs now prefer investment in financial assets to physical assets. We at Ashutosh Financial Services also believe that an NRI should prefer investing in Finance Assets over Physical Assets to get the maximum returns on their investments. Below are the reasons why an NRI should choose Financial Assets (Mutual Funds, Portfolio Management Services, Fixed Deposits, etc.) Over Physical Assets (Land, Residential Property, Commercial Property):
- Liquidity: Physical assets like land, residential or commercial property are generally considered ill-liquid assets. On the other hand, financial assets like mutual funds, portfolio management services, and fixed deposits are easily sellable at the click of a button. Another key difference is that to sell land; an NRI must find a buyer, agree to a specific price and then recieve the sale proceeds. On the other hand, in financial assets like mutual funds or fixed deposits, an NRI can receive the entire funds back in their bank account in a week. Further, there is also a lot of unaccounted money involved in transacting in real estate which can become cumbersome for an NRI to manage.
- Returns: Everyone knows that the long-term returns of financial instruments like mutual funds and portfolio management services will outperform the returns of physical assets like land, residential property, commercial property, etc. The case of India is no different in this regard. The returns of Indian financial assets have consistently beaten the returns of physical assets over the last three decades.
- Management of Assets: Physical assets demand resources for management, upkeep, and security to maintain an asset properly. On the other hand, modern financial assets are professionally managed and require no time or resource devotion from you. Managing physical assets is time and money-consuming, whereas financial assets do not need either.
- Correlation To Economic Growth: The Returns of physical assets decreases when the economy grows. It happens because when the economy grows, infrastructure grows too, and people tend to live in distant locations with the growth of infrastructure. Distant locations are areas that are away from the center of the city. As people shift to distant locations, there is a significant increase in the supply of real estate, which reduces the returns on a real estate investment. However, the returns of financial assets are in line with economic growth. The returns from financial assets rise with broader economic growth. The higher the economic growth, the higher the returns from the financial assets.
- Next Generation: The next generation NRIs are not intending to relocate to India or visit India frequently. Moreover, since NRIs do not intend to use the property, it does not make much sense for them to own real estate assets. Moreover, visiting India to manage the assets can also be a challenging task for them.
Types of Properties an NRI can buy in India:
NRIs can buy property in India as long as they comply with the FEMA and RBI guidelines. There are no restrictions on the number of properties an NRI can buy in India. There are various types of properties that an NRI can buy in India. An NRI can buy any residential or commercial property in India. However, an NRI cannot purchase any agricultural land, farmhouse, or plantation property in India.
The RBI releases various directives from time to time on the properties an NRI can buy in India. These directives help the NRIs abide by the laws while buying properties in India. .As per the directives, NRIs cannot engage in real estate business in India, i.e. dealing in regular buying and selling of land within short intervals in greater volumes. It is important to note that an NRI need not disclose to the RBI all the properties they purchased in India.
in India. These directives help the NRIs abide by the laws while buying properties in India. .As per the directives, NRIs cannot engage in real estate business in India, i.e. dealing in regular buying and selling of land within short intervals in greater volumes. It is important to note that an NRI need not disclose to the RBI all the properties they purchased in India.
How Can an NRI Buy & Sell Properties In India?
An NRI can buy residential and commercial properties in India without any restrictions. NRIs can pay either through standard banking channels by remittance from a foreign bank account or use their NRE/NRO account balances. NRIs cannot pay for properties using traveller’s cheques or foreign currency in India. Many NRIs are investing in the Indian property markets due to the depreciating rupee. A depreciating rupee would enable the NRIs to generate abnormal returns due to exchange rate fluctuations.
It is advisable for NRIs to buy properties in India either through remittances from abroad or through an NRE account. This would enable an NRI to easily repatriate the sale proceeds of the property outside India after paying appropriate taxes. However, in the case of residential house properties, the repatriation of funds is restricted to the sale of a maximum of two properties. Repatriation beyond that will have to be done under the 1 million US dollar repatriation scheme of RBI.
Documents Needed By The NRIs To Buy Property In India:
An NRI can buy property in India by using the following documents:
- Passport or OCI Card
- Pan Card
- Power Of Attorney (In case the NRI is unable to come to India to complete the purchase)
- Utility Bills (For proof of current residence)
- Passport Size Photo.
Can an NRI Buy Property In India Without Coming To India?
Yes, an NRI can buy property in India without coming to India through a Power Of Attorney (POA). An NRI can give their friends or relatives a POA to complete the purchasing process in India. An NRI can create a custom POA to give specific rights to the representative buying property on their behalf. A POA would ensure that an NRI can buy a property in India without coming to India.
How Can We Help You?
At Ashutosh Financial Services Private Limited, we have assisted the NRIs with their real estate requirements for over 20 years. We also support the NRIs in relevant tax compliance and procedural compliance relating to property buying in India. Our team specializes in creating Power Of Attorney (POA) for NRIs.
We thoroughly discuss with the NRIs their requirements for buying property in India. After this, we inform the NRIs regarding the procedures and compliance they must adhere to. We also discuss with NRIs how they should route their funds and which bank accounts they should use to get the maximum benefit. Our team would additionally suggest the NRIs various ways in which they can save tax while buying property in India.
We also help the NRIs draft a Power Of Attorney (POA). Our team would discuss with the NRIs the power they wish to give their representative. Our team also helps the NRIs in both drafting and notarizing the POA. We will also assist the NRIs in drafting the POA, keeping in mind their objectives.
Apart from providing the above-mentioned financial services to the NRIs, we also offer NRI Banking, NRI Investment, NRI Insurance, NRI Income Tax & Foreign Tax Compliance Services. We are a one-stop professional financial services provider company. We aim to provide the NRIs with quality financial services for all their Investment needs.
India is uniquely placed in today’s geo-political environment. With the highest number of young people, a robust startup ecosystem, and a proactive government willing to provide all the opportunities, India is finally unlocking its growth story. India is uniquely poised to grow in an environment wherein the other major economies of the world are starring at a slowdown. On top of this, the government has launched several measures that would transform the Indian economy into a behemoth. All the above factors make India the most attractive NRI Investment option. However, the key problem lies in the fact that there are multiple NRI Investment Options in India for the NRI.
NRI Investment Options in India can be divided into 1) NRI Investment Options in India – Equity Oriented Instruments & 2) NRI Investment Options in India – Fixed Income Instruments. As India is still a developing country, various fixed-income instruments are available for an NRIs investment. A lot of NRIs generally invest in Indian for the sole purpose of earning stable and secure returns. The below-mentioned fixed-income instruments offer fixed & guaranteed returns on the NRI’s investment. The prospect of fixed and guaranteed returns offers the NRIs better insight regarding their future plans.
Here are a few fixed NRI Investment Options in India:
1) Corporate Fixed Deposits
An NRI can invest in corporate fixed deposits to get assured/guaranteed returns. In India, banks and non-banking financial companies can issue fixed deposits. The fixed deposits issued by banks are called fixed deposits, whereas the fixed deposits issued by NBFCs are called corporate fixed deposits. An NRI has to invest a lumpsum into a corporate fixed. At the time of investing, based on the interest rate of the fixed deposits, the NRI can easily calculate the amount he will receive at maturity.
Corporate Fixed Deposits are issued by giant corporations with a stable financial background. These companies have played a vital role in India’s growth since its independence. At Ashutosh Financial Services, we suggest corporate fixed deposits of companies like Bajaj Finance, Mahindra Finance, HDFC, etc. These are giant companies with very stable financial backgrounds. These companies have consistently given fixed returns on all their deposits over the last decade.
2) Guaranteed Returns Insurance Plans
The most appealing fixed-income investment option for NRIs in India is a Guaranteed Returns Insurance Plan. As an NRI Investment Option in India, the Guaranteed Returns Insurance plan offers the NRI the dual benefit of investment & insurance. In this plan, an NRI has to invest or pay the premium for a certain number of years, after which the NRI gets a fixed/guaranteed return. The return of a guaranteed return insurance plan is entirely tax-free, making it one of the most attractive NRI investment options in India.
We all know that life is uncertain, and investment is paramount to a stable life. A Guaranteed Returns Insurance Plan helps the NRI satisfy the above requirements. As an NRI Investment Option in India, it offers the NRI complete safety as the return is guaranteed and carries an insurance cover for any unforeseen contingency.
3) Fixed Maturity Plans
Another fixed-income NRI investment option in India is – The fixed Maturity Plan. As the name suggests, a fixed maturity plan offers an NRI a fixed sum of money on maturity. Generally, in this type of plan, the maturity amount is pre-fixed at the time of investment. In this plan, an NRI has to pay the premium (investment) for a fixed number of years and receive a fixed amount on maturity.
The corpus received by the NRI on maturity is entirely tax-free. Moreover, since the maturity amount is fixed at the time of investment, the NRI will get a fixed return in the long term regardless of economic fluctuations.
4) Pension Plan
A pension plan is a type of plan that offers an NRI fixed long-term income post-retirement. As an NRI Investment option in India, it secures the NRI’s future and assists the NRI with any post-retirement contingencies. A pension plan can be specially curated to offer various monthly & lumpsum payments to ensure that an NRI has an independent life.
As an NRI investment Option in India, an adequately set pension plan is a must if an NRI is looking to settle/retire in India. A pension plan provides a guaranteed sum of money as per the agreement made while investing. Since it offers guaranteed returns, the NRI can have a stable and secure retired life without any worries.
How Can We Help You?
Ashutosh Financial Services has been serving the needs and requirements of the NRIs for over 20 years. We are a professional financial company that provides a wide range of NRI Services. Our aim is to simplify the NRI investment process and provide quality & unbiased advice to the NRIs. We have separate departments for providing different NRI services to the NRIs. Our team consists of qualified professionals who have years of experience of handling NRI Investments.
At Ashutosh Financial Services we offer the NRIs a variety of options relating to fixed-income instruments. We also suggest the NRIs legal ways to save taxes both pre & post investment. Ashutosh Financial Services has a presence in India’s key financial cities like Mumbai, Ahmedabad, and Rajkot. We have state-of-the-art offices in all these 3 cities. We also have a robust digital infrastructure for online services.
As a financial services provider company, we provide a wide array of NRI services like NRI Investment, NRI Insurance, NRI Income Tax Compliance, and NRI Foreign Tax Compliance services. We keep ourselves updated with all the recent updates on the rules and regulations regarding NRI Investment Options in India. We follow a process driven approach to provide quality services to the NRIs.
Below are the key USPs that make us one of the best NRI services provider in India:
1) Dedicated Relationship Manager: At Ashutosh Financial Services, we assign you a dedicated relationship manager right from our first meeting. The said relationship manager will assist you throughout your process of investing. The relationship manager would be your one-point contact for your current and future needs with Ashutosh Financial Services. Even after completing the investment process, the relationship manager will be available for all your future investment needs.
2) Dedicated & In-House Research & Analysis Department: Another key feature that enables us to provide efficient and quality NRI services is our dedicated in-house research and analysis department. Helmed by qualified and professional members, it tracks the performance of all the NRI Investment Options in India. The research & analysis team, based on the information provided about you, will carefully select the best investment scheme for your investment.
Our Simplified & Efficient Process For Your Investment is as under:
1) Preliminary Discussion: It is the most important part of the process. In this, we will have a detailed discussion with you regarding your investment objectives, expected returns, duration of investment, etc. We also collect your basic details to work up your risk profile.
2) Risk Profiling: Risk profiling is the process through which we assess how much risk you should ideally take to achieve your investment objectives. Risk profiling enables us to pick the right investment option based on your expectations while keeping your investments as risk-free as possible.
3) Research & Analysis: Based on the data collected after preliminary discussion and risk profiling, the research and analysis department will pick the right investment scheme for you. The research & analysis team will compare various schemes and pick the best one for your investment.
4) Investment Process: Once the schemes are finalized, we will approach you again with the necessary investment documents and a detailed plan for achieving your investment goals. We will also discuss the taxation aspect of your investment.
We are a one-stop financial services provider. As an ISO-certified company, we adhere to the highest standards of professionalism in our service. At Ashutosh Financial Services, we assure you that we will provide you quality and unbiased advice for all your investments.
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Can NRI Invest in Mutual Funds?
Yes, an NRI can invest in mutual funds in India as long as the NRI adheres to the rules of the Foreign Exchange Management Act (FEMA). India is slowly and steadily unlocking its growth story and, in the process, creating a vast amount of wealth for all the investors investing in its growth story. India is one of the fastest-growing economies in the world. The Indian stock market is also one of the best-performing markets in the world.
India has been a constant recipient of massive FDI & FII inflows. A majority of these inflows get directly invested in Mutual Funds. Mutual Funds are one of India’s most sought out investment options for NRIs in India. Many NRIs invest in mutual funds due to their easy and simplified investment and redemption process.
How Can NRI Invest in Mutual Funds?
An NRI can invest in mutual funds. However, it is not as simple as it is for a resident Indian. There are only a few ways through which an NRI can invest in mutual funds. Below is the process of how an NRI can invest in mutual funds:
Step 1 - NRI Bank Accounts
An NRI needs to have an NRI bank account to invest in mutual funds in India. An NRI can open an NRE/NRO account with any Indian bank to do banking transactions in India. An NRE account is advisable for an NRI since it is convenient to transfer their foreign income back and forth from India.
Step 2 - Get Your KYC Done
KYC stands for Know Your Consumer. The KYC is a form SEBI introduced for establishing customer identity, customer activities, and customer’s source of funds. SEBI purposefully designed the KYC standards to protect the financial institutions from fraud, corruption, and money laundering.
An NRI can submit the following documents to complete their KYC process:
- Overseas Address Proof
- Indian Address Proof
- A Copy of The Passport
- Recent Photograph
- A Copy of The Pancard
- Bank Statement
Step 3 - Investment Procedure
An NRI can invest in mutual funds through a professional financial services company. An NRI can invest in mutual funds through offline and online channels. The offline method includes filling in forms and cheques, whereas the online method includes investing through net banking.
An NRI can also invest in mutual funds by assigning a Power Of Attorney (POA) to another person. In cases where the NRI has issued a power of attorney (POA) to another individual, the said individual can invest in mutual funds on behalf of the NRI.
Why Should An NRI Invest In Mutual Funds?
Professionally Managed Funds: Mutual Funds are professionally managed, which frees the NRIs from the tedious task of stock research and analysis. Moreover, the transparency of a mutual fund scheme ensures that the NRI knows all about his investment.
Multiple Schemes: There are various types of mutual funds – Equity, Debt, Hybrid, etc. Each type of mutual fund has its advantages and disadvantages. An NRI can choose the kind of mutual fund to invest in based on his objectives.
Diversification Of Risk: Investing in mutual funds enables the NRIs to diversify the investment basket/portfolio. An NRI could have invested in various financial instruments in India and investing in mutual funds would diversify the NRIs overall investment portfolio.
Mutual Fund Taxation For NRIs:
As discussed earlier, NRIs can invest in mutual funds. Hence the NRIs also need to comply with the necessary taxation requirements. The NRI needs to be aware of two types of taxes – Short Term Capital Gain Tax (STCG) & Long Term Capital Gain Tax (LTCG). STCG is applicable when an NRI purchases and redeems mutual funds within one year. LTCG is applicable when an NRI redeems the mutual funds after the completion of 1 year of purchase.
For Equity Oriented funds, the STCG tax rate is 15%, (holding period less than 1 year) whereas the LTCG tax rate is 10% without indexation benefits. For Debt Oriented funds (holding period less than 3 years), the STCG is as per the NRIs income tax slab, whereas the LTCG tax rate is 10% without indexation benefits.
Moreover, India has entered into the DTAA (Double Tax Avoidance Agreement) with more than 90 Countries. DTAA agreement ensures that the same income cannot be taxed in 2 countries. As per this agreement, the NRI has to pay tax on the gains made on mutual funds in India only and not in the NRIs country of residence. Most NRIs can take benefit of India’s DTAA agreement with the country of their residence and invest freely in India.
How Can We Help You?
Ashutosh Financial Services Private Limited is a professional NRI services provider company. We have been assisting and serving the needs and requirements of the NRIs for over 20 years. We have happily served over 500+ NRIs with their various needs and requirements for investing in India over the last 20+ years.
NRI investments are a complicated matter as an NRI needs to adhere to various rules of the Foreign Exchange Management Act (FEMA), Income Tax, Reserve Bank Of India (RBI), etc. An NRI must comply with all the rules of various institutions to avoid unnecessary troubles.
Through our years of experience, we at Ashutosh Financial Services have created many custom processes. We have designed them specifically to simplify the entire process of NRI investments. At Ashutosh Financial Services, we have a team of experienced employees who are well-versed in an NRI investment’s intricacies.
At Ashutosh Financial Services, we follow a process-driven approach to cater to an NRI’s needs. The steps of the process are as under:
- Preliminary Discussion: Thorough Discussion about the NRI’s objectives, needs, and requirements. We also discuss the taxation part of the investment.
- Risk Profiling: Based on our preliminary discussion, we determine the maximum level of risk an NRI should take to attain his objectives & goals.
- Research & Analysis: We do in-depth research and analysis of the schemes and plans where the investment needs to be made to attain the NRIs objectives. We boast of an in-house research & analysis department
- Investment Process: After all the necessary analysis, we approach the NRI again with a detailed plan/outline of how the investment needs to be done and how the investment objectives will be attained.
- Dedicated Relationship Manager: Every investor has a dedicated relationship manager at Ashutosh Financial Services. In the same way, an NRI investor would also have a dedicated relationship manager, who shall be the one-point contact for the NRIs future needs. The relationship manager will be available to assist the NRI with all their requirements.
Ashutosh Financial Services is a one-stop financial services provider. At Ashutosh Financial Services, we believe in providing quality and unbiased financial services to the NRIs.
Everyone is aware that India will unleash its growth story and, in the process, create a vast amount of wealth for all investors. However, the real problem is deciding where to invest in India. As an NRI, you would be unaware of all the rules and regulations relating to investing in India. Moreover, there are a lot of NRI Investment Options In India for the NRIs. However, an NRI needs to know all the advantages and disadvantages of every NRI Investment Options In India before selecting one.
The Indian economy is one of the fastest-growing economies in the world and will continue to be the same over the next decade at least. Naturally, such impending growth would create loads of wealth for anyone who invests in India’s growth story. India continues to be the global bright spot for smart investments. Naturally, this makes India the perfect place for NRIs to invest their money. Moreover, India is also the preferred investment destination for the NRIs due to its motherland appeal.
The Best NRI Investment Options In India - Equity Oriented Instruments.
1) Mutual Funds
Mutual Funds are one of the most stable and safe investment options for NRIs in India. Mutual funds are one of the most preferred NRI investment options in India for NRIs. Various types of mutual funds are available for the NRI to invest in. An NRI can choose from Equity, Debt, Hybrid, or Solution Oriented Mutual Funds based on their objective and risk appetite.
Qualified individuals professionally manage Mutual Funds. The allocation in a mutual fund is done after thorough research & analysis. Moreover, the investment in a mutual fund depends on the nature of the underlying scheme/fund’s objective. The information regarding mutual fund investment is readily available to investors to ensure greater transparency.
2) Portfolio Management Services
Another preferred investment option for the NRIs in India is Portfolio Management Services (PMS). PMS is the ideal investment option for NRIs who prefer investing directly in stocks. A team of professional individuals with years of experience handle a PMS. PMS invests directly in stocks after thorough research and analysis.
There are various types of Portfolio Management Services, and an NRI can choose one according to his investment objectives and risk-taking abilities. PMS is one of the ideal NRI Investment Options In India as the NRI has to invest the money and let the professional fund managers do their job.
NRI Investment Options In India - Alternate Equity-Oriented Instruments
1) Unlisted Shares
We all know India is unlocking its growth story. Similarly, there are a lot of companies in India that are yet to unlock their true potential. The startup age has brought about a lot of disruptive companies that can revolutionalize entire industries in the future. The recent frenzy in the stock markets has brought out a new NRI Investment Option In India for the NRIs – Unlisted Shares.
Unlisted shares are equity shares that are not traded on the secondary market, that is, the stock exchanges. The unlisted shares have caught the eye of the NRIs due to the prospect of generating enormous returns. However, not all unlisted companies generate enormous returns. An NRI must do all the due diligence before investing in unlisted shares or hire a financial service provider like Ashutosh Financial Services to assist them in investing in unlisted shares.
2) Foreign Equity
As an NRI, you would know that the world’s biggest and most famous companies, like Apple, Amazon, Google, etc., are from the US markets. The US market is the world’s biggest stock market in terms of market capitalization. These companies have consistently generated good returns for all their investors. They are also among the world’s biggest wealth creator companies. However, most of the NRI investors would not have invested in these companies due to the lack of knowledge of how to invest in them or due to the price of the share of these companies.
To solve this problem, we at Ashutosh Financial Services have created a custom product – Foreign Equity. We have created many custom portfolios of US Listed Companies in this product. Each of these portfolios has an underlying theme, and all the investments are done into companies according to the underlying theme.
How We Help You?
Ashutosh Financial Services is a professionally managed, ISO-certified financial services provider that has assisted the NRIs in their various requirements for over 20 years. We have a team of qualified and experienced individuals who are well-versed in handling the intricacies of an NRI investment. In our bid to provide quality and efficient NRI Services, we have separate departments for all our services.
We have our presence in 3 key cities(Mumbai, Ahmedabad, and Rajkot). We have a state-of-the-art digital and physical infrastructure. Our robust infrastructure enables us to provide offline and online service/support to the NRI for their investments. All our separate departments are helmed by dynamic individuals with years of experience handling NRI investments.
We follow a process-driven approach that is carefully curated to ensure that all the aspects of an NRI investment are taken care of. Our process starts with-
1) Thorough Discussion: To understand your investment objectives and risk appetite. It also enables us to collect all your basic details and prepare your risk profile.
2) Risk Profiling: Based on the investment horizon and objectives, we try to ascertain the maximum risk you should take to achieve your investment objectives.
3) Research & Analysis: We select the best scheme for fulfilling your investment objectives based on all the data collected. It involves comparing all the available options and choosing the best one for your investment.
4) Investing: Once the final schemes are locked, we will approach you again with all the necessary documents and a detailed plan of how your investment objectives will be achieved. Moreover, we will also discuss the taxation part of your investment.
Our Key USPs are:
1) Dedicated Relationship Manager: At Ashutosh Financial Services, we assign an individual to assist you in your investment process. The relationship manager would also assist you with all your future requirements. The said individual will always be available to assist you in any way you need.
2) Dedicated Research & Analysis Department: A specialized department that tracks the performance of all the NRI Investment options in India. It is helmed by qualified and professional individuals with years of experience in handling NRI Investments. This department gives us an edge and enables us to provide you with the best investment scheme for your objectives.
3) Periodical Review Of Investments: At Ashutosh Financial Services, we undertake a periodical review of your investments. We take up this activity to ensure that if the schemes perform differently from the expectations, we can change and replace them at the earliest to achieve your investment goals.
At Ashutosh Financial Services, we assure you that we will provide you with the best quality and unbiased advisory services for your investment.
Need For Professional NRI Services In India
India is the bright spot in the overall gloomy world economies. India is one the fastest growing economies in the world, and therefore no wonder that India is one of the most preferred destinations of the NRIs when it comes to Investing. It is very important that an NRI hires a professional financial company for their various NRI services in India. In the last decade, India has drastically improved its infrastructure facilities, ease of doing business abilities, and various other laws. All these changes will enable India to unlock its growth story.
India continues to attract massive inflows of Foreign Investments. India is one of the few developing countries receiving a steady flow of Foreign Investments in the last few decades. Therefore it makes absolute sense for an NRI to Invest In India. However, an NRI looking to invest in India must look for a financial services provider company that can provide quality NRI Services in India. A professional financial company can cater to all their requirements of the NRIs from investments to taxation. It would also be able to ensure that the NRI complies with all the relevant rules and regulations of India.
Following are the reasons why an NRI must work with a professional financial services provider company for NRI Services in India:
1) One-Stop Financial Services Provider:
A professional financial company providing NRI Services in India would greatly help the NRIs. It would enable them to track and monitor all their investments in one place. An NRI would also get all its requirements satisfied in one place. A professional financial company would take care of an NRI’s Investment, Insurance, Income Tax, and Banking needs all in one place. It will therefore eliminate the need for the NRIs to have multiple advisors or people for the same task.
2) Quality Service:
An NRI is assured of getting quality NRI services in India with a professional company. Most professional financial services companies tend to have a process-driven approach to keep things simple and efficient. Moreover, professional companies have well-trained and experienced employees that can better cater to the requirements of the NRI.
3) Taxation Compliance:
A professional financial company will help the NRIs in proper tax compliance as well. A company providing comprehensive NRI services in India would ensure that the NRI is tax complaint in India. NRI Investments are subject to various taxes like Short Term Capital Gain Tax (STCG) or Long Term Capital Gain Taxes (LTCG), etc. It is here that a professional financial company would ensure that the NRI pay the necessary taxes as per Indian rules. A experienced financial company will therefore keep the NRI tax complied as per the Indian rules and regulations.
4) Tax Planning:
Not only does a financial company help an NRI in Tax Compliance, but it also helps an NRI in Tax Planning. Tax Planning is a process through which a financial company reduces the NRI’s tax burden. The NRIs tax burden is reduced while staying within the legal ambit of rules and regulations of the Indian Income Tax Act. A professional financial company would know the various deductions and ways an NRI can reduce its overall tax liability.
5) Experience:
A professional financial company providing NRI Services with years of experience would be better equipped to handle NRI’s needs. An experienced company would be well-versed in the intricacies of an NRI investment and other requirements. A professional financial company would also be aware of various laws and regulations that streamlines the NRI’s investment process.
How We Can Help You?
We at Ashutosh Financial Services Private Limited have been providing NRI services in India for over 20 years. Ashutosh Financial Services Financial Limited is a professional, ISO-certified, One-Stop financial services provider company. Our NRI Services consists of NRI Banking, Investments, Insurance, Income Tax Compliance, Estate Planning, Foreign Tax Compliance, etc. We have dynamic leadership and management backed by a qualified and experienced team.
Through our years of experience, we have created many custom processes that enable us to serve the NRIs in the most simple and efficient way. Our aim is to make the entire process of Investing for NRIs extremely streamlined and hassle-free. We have in-house dedicated research, tax, and claims settlement departments, which facilitates us to provide all the NRI services. We possess a state-of-the-art physical and digital infrastructure to provide quality NRI services.
At Ashutosh Financial Services Private Limited we keep our entire team updated with the happenings in the world of finance. Our team keeps themselves updated with all the current rules and regulation changes relating to finance. Through our years of experience, we are now excellent tax planners. We specialize in helping the NRIs save taxes while staying within the laid-out rules and regulations. In our 20+ years of providing NRI services we have successfully catered to the needs of over 500+ NRI families spread across 20+ countries. We aim to provide complete and comprehensive NRI services to the NRIs looking to invest in India.
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What is an NRE Account
Introduction To NRE Account:
An NRE (Non-Resident External Account) account is a type of account that lets the NRIs transfer their foreign currency earnings to India. It is a rupee-denominated account with no limits on transferring funds to and from India. NRIs use an NRE account to invest their foreign incomes in India. An NRE account is the preferred choice of NRIs for remittances. NRIs generally do remittances to take care of family responsibilities.
An NRE account is a savings bank account which can also be used to make fixed deposits. Moreover, the interest earned is also wholly tax-free and fully repatriable. An NRI can deposit their current Indian incomes (rent, interest, dividends, etc.) in their NRE account. However, there are restrictions on the deposit of sale proceeds of assets to an NRE bank account. An NRI can manage this account from anywhere in the world through Net Banking. An NRE account is exposed to exchange rate fluctuations. An NRI can open an NRE account individually or jointly (only with an NRI).
People Eligible To Open An NRE Account:
- Non-Resident Indian (NRI).
- Indian Citizens Studying / Working Abroad.
- Person Of Indian Origin (PIO).
- Overseas Citizen Of India (OCI).
- Indian Citizens Posted Abroad By The Government.
Benefits Of An NRE Account:
Remittances: Remittance is one of the key reasons why an NRI uses an NRE account. NRIs can transfer their foreign earnings to the NRE account with ease. An NRI can transfer money to this account in foreign currency from their foreign bank account, which will automatically get converted into Indian Rupee. The NRIs mostly use this account to take care of their responsibilities for their families back in India.
- Tax-Free: Any interest earned on NRE Savings or Fixed Deposit account is tax-free and fully repatriable. Indian banks offer an attractive rate of interest on NRE Savings & Fixed Deposits accounts, making them an attractive option for the NRIs to invest or park their free funds.
Investment: An NRE account is also beneficial to NRIs when it comes to investments. Since there are no limits on the repatriation of the funds back to the foreign bank accounts, it lets the NRIs invest in India to their full potential. NRIs can choose to invest in Indian Stock Markets, Mutual Funds, Portfolio Management Services, Bonds, etc. It can be used to invest directly in the equity markets (Mutual Funds & Stocks) on fulfillment of certain conditions.
Repatriation: There are no limits on the repatriation of funds in an NRE account. An NRI can therefore transfer any amount to and from this account to their foreign account without any limitations. In contrast, an NRO account has a $1 million limit on repatriation of the funds.
Documents Needed To Open An NRE Account:
- Pan Card
- OCI Card
- Passport
- Bank Statement / Driving License (If OCI Card not available)
- Tax Identification Number
- Passport Size Photograph
How Can We Help You?
Ashutosh Financial Services Private Limited is a One-Stop Financial Services Provider. We provide NRI Services relating to NRI Banking, Income Tax Compliance, Investments, Insurance, Foreign Tax Compliance, etc. In our 20 years of providing NRI Services we have happily served over 500+ NRI client families spread across 20+ countries. We are a professionally managed ISO-certified company.
We have a dedicated NRI Services Department to focus on the requirements of the NRIs. Our team comprises of well qualified and well-trained people who always stay updated with the rules and regulations of the NRIs. We have a state-of-the-art physical office spread across 4000 sq—feet for our various departments and services.
An NRI may need to do some transactions in India for multiple reasons ranging from taking care of family responsibilities to investing in India, but before any such transaction, an NRI must have an NRI bank Account. Therefore, we at Ashutosh Financial Services put utmost importance on understanding the needs and requirements of the NRI first before suggesting an NRI bank account.
In our preliminary discussion with the NRIs we explain to them all the advantages and disadvantages of the various type of NRI bank accounts and then help them in choosing the right type of bank account for their banking needs. We also explain to them the tax implications that they need to adhere to for the type of bank account chosen for them.
At Ashutosh Financial Services Private Limited we help the NRIs in opening the bank account by providing them a list of documents needed to open the bank account. Our team will help guide the NRI in choosing the right bank to open the account. To complete the entire process quickly, we also take regular follow-ups with the bank executives to ensure that the bank account opens at the earliest.
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What Is An NRO Account
Introduction To NRO Account:
An NRO (Non-Resident Ordinary Account) account is a type of NRI account that is maintained in Indian Rupee. Through an NRO account, an NRI can manage all their incomes earned from India. An NRI can deposit their rent, dividend, interest, proceeds from the sale of assets, and various other incomes generated from India in their account. An NRO account is a savings account and it can also be used to make a fixed deposit. An NRO account can be opened jointly with a resident or a non-resident Indian.
Any current income (rent, interest, dividends, etc.) received in an NRO account is fully repatriable after the payment of applicable taxes and completion of the necessary procedure. An NRI can also transfer up to $1 Million per year from their NRO account after paying the applicable taxes over and above the current incomes mentioned above. An NRO Account is immune to exchange rate fluctuations because it is a rupee-denominated account. An NRO account is always useful when it comes to investing in India.
People Eligible To Open An NRO Account:
- Non-Resident Indians (NRI).
- Person Of Indian Origin (PIO).
- Overseas Citizen Of India (OCI).
- Students Studying Abroad.
- Foreign Students Studying In India.
- Tourists On A Short Visit To India.
Benefits Of An NRO Account:
- Manage Indian Income: An NRO account helps the NRI in collecting and manage his Indian income. An NRI could have various types of incomes like Rent, Interest, and Dividends from their various investments in India. An NRI could also deposit the proceeds from the sale of Indian assets in this account. An NRO account lets an NRI deposit these incomes in their own NRO account in Indian Rupee denomination only.
- Immune To Currency Fluctuations: Most of the time the NRIs are at risk of losing money due to exchange rate fluctuations between the Dollar & Indian Rupee. An NRO account is immune to exchange rate fluctuations unlike an NRE account because it is a rupee-denominated account. Moreover, the repatriation of funds can also take place at the NRI’s discretion.
- Repatriation: An NRO account also allows the NRI to repatriate their Indian income to the country of their residence. It is important to note that an NRI can only transfer up to $1 Million in a financial year and that too after paying the applicable taxes on the gains made over and above the incomes like rent, interest, and dividends earned. This enables the NRI to keep receiving income from their investments in India in a streamlined manner.
- Investment: An NRO account also helps NRIs in investing in India. NRIs tend to invest in Indian stocks, mutual funds, and bonds for better returns. Since the NRO account is a rupee-denominated account, the NRIs can invest directly in the financial instrument of their choice without the need for conversion of currencies.
Better Returns: It is also common knowledge among the NRIs that since is a developing country, it offers better interest on saving accounts and fixed deposits. An NRI can therefore either park their surplus funds in fixed deposits or let it be idle in the savings account and earn interest. The interest earned however is taxable subject to TDS deduction as well. The interest amount is wholly repatriable only after paying the appropriate taxes.
Documents Needed To Open An NRO Account:
- Pan Card
- OCI Card
- Passport
- Bank Statement / Driving License (If OCI Card not available)
- Tax Identification Number
- Passport Size Photograph
How Can We Help You?
Ashutosh Financial Services Private Limited is a Rajkot-based company that has been serving the needs and requirements of NRIs. We provide NRI Services relating to Investments, Insurance, Income Tax Compliance, Foreign Tax Compliance, FEMA Regulations, Estate Planning, & NRI Banking. We have been providing all these NRI Services for over 20 years now. At Ashutosh Financial Services Private Limited we have a team of qualified and experienced individuals who have years of experience when it comes to dealing with the needs and requirements of the NRIs.
Any NRI willing to do a transaction to or from India needs to have an NRI Bank Account. It is very important to note here that a lot of NRIs would not have any idea about the banking regulations that they need to follow for opening an NRI Bank account or the types of bank accounts that an NRI can open. Since it is a very crucial part of the overall NRI Banking we at Ashutosh Financial Services have a process-driven approach that has been custom created to address the various needs of an NRI.
There are multiple types of NRI bank accounts that an NRI can open, we explain and outline all the advantages and disadvantages of these types of accounts. However, it is through detailed discussion that we identify and address the banking needs of an NRI and help the NRI in choosing the right type of bank account as per their need. We also help the NRIs in selecting a bank for opening their bank account. We not only guide the NRIs in the process of opening the bank account but also take regular follow-ups from the bank executives (if need be). Our aim is to provide the NRIs with a hassle-free experience while opening a bank account in India.
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NRI Banking
Introduction To NRI Banking
A bank account for any NRI can be opened by an NRI or a Person Of Indian Origin (PIO) or an Overseas Citizen Of India (OCI), with an Indian bank to avail banking services in India. An NRI Bank Account is a unique type of bank account that can be opened in any Indian Bank by citizens who currently do not reside in India. An NRI could be having income in different foreign currencies like dollars, pounds, euros, etc. but in order to invest in India, an NRI would need an NRI bank account that can convert his foreign currency into Indian Rupee. For an NRI having income in India, it is also important to have an NRI account in India so that his earnings can be deposited in the said NRI account and then can be repatriated back to him post-conversion.
Types of NRI Accounts:
There are three types of bank accounts that an NRI can open to meet his banking needs in India:
1) Non-Resident Ordinary (NRO) Account:
An NRO account is an account held by NRIs primarily for managing their incomes earned or arising from India. An NRI can deposit any amount in Indian rupees in NRO Account. An NRO account also lets you receive funds in foreign currency from any foreign country.
An NRO account is mainly opened by NRIs to manage their deposits and interest incomes like dividends, interest, and rent. NRIs can only withdraw Indian Rupee from NRO Account as this account is maintained in Indian Currency.
The Interest earned on the deposits of an NRO account is subject to TDS (Tax Deducted At Source). Moreover, funds from an NRO account cannot be freely repatriated into any foreign account.
2) Non-Resident External (NRE) Account:
An NRE account is an account held by NRIs primarily to park their foreign earnings in Indian currency. Any currency (dollar, euro, pound) deposited into an NRE account will be converted to the Indian rupee.
The key benefit of an NRE account is that it is exempt from tax. The principal amount as well as the interest earned from the principal amount is both tax-free. Moreover, there are no limits on the repatriation of funds from an NRE account to any foreign account.
NRE accounts are generally used for personal or business purposes. NRE accounts are the preferred choice of accounts for NRIs looking to make direct investments in India. An NRE account is however prone to exchange rate fluctuation risk due to conversion into INR from foreign currency and vice versa.
3) Foreign Currency Non-Resident (FCNR) Account:
A foreign currency non-resident account is a type of account that lets NRIs create term deposits in foreign currencies in India. An FCNR account is like a fixed deposit to a resident Indian but only in foreign currency. Since the deposits are made in foreign currencies there is no risk of exchange rate fluctuations.
The Reserve Bank Of India (RBI) has allowed the NRIs to hold FCNR accounts in the following currencies only – US Dollars (USD), Great Britain Pound Sterling (GBP), Euro (EUR), Singapore Dollar (SGD), Hong Kong Dollar (HKD), Australian Dollar (AUD), Canadian Dollar (CAD), and Japanese Yen (JPN).
The key point to note in an FCNR account is that both the principal and the interest earned on the principal amount are tax-free and fully repatriable without any restrictions. Moreover, since an FCNR account is basically a term deposit, the NRIs can earn risk-free fixed returns without exchange rate fluctuations or taxation.
A Brief Comparison Between NRO, NRE & FCNR Accounts:
How Can We Help You?
Ashutosh Financial Services is a professional financial company that has been assisting the NRIs in their various banking and financial requirements for over 20 years now. Through our years of experience, we have created a custom process through which we can satisfy the needs of the NRIs in the best way possible.
When it comes to NRI Banking requirements it is critical to understand and know the objective of the NRI before opening any bank account. We have a thorough discussion with the NRIs to determine their goals and objectives before suggesting them any NRI bank accounts. Once the goals are outlined we suggest an NRI the type of account that best suits their needs as well as satisfies all their requirements.
We also suggest the banks that an NRI should prefer for opening an NRI account. We also help the NRIs by informing them of the various documents and proofs that they will need to open an NRI bank account. Moreover, we also take regular follow-ups with the bank executives to ensure that the NRI bank account is opened at the earliest. We also assist and guide the NRIs in case of any problem arising in the process of NRI bank account opening.
We also inform the NRIs about all the taxation and compliance matters relating to the NRI accounts opened by them. We are an end-to-end one-stop NRI service provider. We provide all kinds of services from NRI banking, Investments, Insurance, Estate Planning, Income Tax Compliance, and Foreign Tax Compliance. We are a professionally managed and ISO-certified company with a qualified and professional team.
FILING OF INDIAN INCOME TAX RETURN FOR BUSINESSES BY OCTOBER 31
➡️ Who is required to file Income Tax Return by October 31?
1️⃣ All companies
2️⃣ All Partnership firms required to audit their books of accounts and their partners
3️⃣ All other firms required to audit their books of accounts.
➡️ Is it mandatory to file Income Tax Return ?
It is mandatory to file Income Tax Return if:
1️⃣ The Income exceeds Rs. 2.5 lakhs during the year (before giving effect of deductions under Chapter VI-A and certain capital gains exemptions)
2️⃣ Following categories of persons irrespective of the income:
▪️ If you have assets outside India or
▪️ Deposited an amount exceeding Rs.1 crore in current account/s by any mode during the year or
▪️ The deposit in one or more savings bank account of the person, in aggregate, is rupees fifty lakh or more during the previous year or
▪️ If his total sales, turnover or gross receipts, as the case may be, in the business exceeds sixty lakh rupees during the financial year; or
▪️ If his total gross receipts in profession exceeds ten lakh rupees during the financial year; or
▪️ If the aggregate of tax deducted at source and tax collected at source during the financial year, in the case of the person, is twenty-five thousand rupees or more; or
▪️ Incurred electricity expenditure in aggregate exceeding Rs.1 lakh or
▪️ Incurred an expenditure exceeding Rs. 2 lakh on travel out of India from bank account/s for himself or any other person.
3️⃣ Any taxable capital gain is realized during the year (Irrespective of basic tax slab exemption i.e. 2.5L).
4️⃣ In case of any Partnership firms or companies.
In other cases, it is not mandatory to file an Income Tax Return. However, one may choose to voluntarily file it because of several advantages.
➡️ What are the advantages of voluntarily filing Income Tax Return?
▪️ Claiming refund of any taxes which have been withheld (TDS deducted).
▪️ Carry forward losses for claiming set-off against future year incomes.
Contact us at the earliest to file your Income Tax Returns and become a compliant and proud Indian.
Ashutosh Financial Services Pvt. Ltd.
•Investments •Insurance •NRI Services •Income Tax & Estate Planning
www.ashutoshfinserv.com
Mobile: +91 73835 30919 / 93773 35959
Email: vrm@ashutoshfinserv.com
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BEST TIME FOR NRI TO DIVERSIFY INVESTMENTS GLOBALLY BY INVESTING IN U.S.A. STOCK MARKET 📈📊
🔳 In the last one year (as on 07-10-22), the U.S.A. financial markets represented by S&P 500 and NASDAQ 100 indices have declined by 17.28% and 22.90% respectively.
🔳 Further, the renowned technology stocks such as Meta (Earlier Facebook), Amazon, Apple, Microsoft & Tesla have also reached a very attractive price point which makes it a lucrative chance to invest at this point.
🔳 Hence, the valuation of U.S.A. stock market makes it a great opportunity to invest and fetch the maximum benefits in the longer run.
🔳 Indian Stock Market is definitely a promising one, but it is always worthwhile to become a global investor to avoid single country & single currency risks.
➡️ To invest in U.S. markets, visit our platform:
https://ashutoshfinserv.vested.co.in/
➡️ The detailed explanation can be obtained from the presentation in the PDF file available in the following link or the YouTube video links stated below:
Investment in Foreign EquityLink of English language explanatory video: Link of Gujarati language explanatory video: NRI Services Ashutosh Financial Services Pvt. Ltd. •Investments •Insurance •NRI Services •Income Tax & Estate Planning www.nrifintax.com Mobile: +91 72288 48181 / 7043593388 Email: nris1@ashutoshfinserv.com Follow us using Ashutosh_NRI_FinTax at Facebook, Instagram, YouTube, Twitter & Linkedin to receive all the latest information from finance world. Disclaimer: We do not intend to provide any investment advice in any manner through the above message. It is only a knowledge-sharing exercise in good faith.
BEST TIME TO DIVERSIFY YOUR INVESTMENTS GLOBALLY BY INVESTING IN U.S.A. STOCK MARKET 📈📊
🔳 In the last one year (as on 07-10-22), the U.S.A. financial markets represented by S&P 500 and NASDAQ 100 indices have declined by 17.28% and 22.90% respectively.
🔳 Further, the renowned technology stocks such as Meta (Earlier Facebook), Amazon, Apple, Microsoft & Tesla have also reached a very attractive price point which makes it a lucrative chance to invest at this point.
🔳 The U.S. dollar has also appreciated against the Indian Rupee by 8.13% in the past six months (as on 07-10-22) and by 4.64% in the past three months.
🔳 Hence, the valuation of U.S.A. stock market coupled with the currency gain prospects makes it a great opportunity to invest and fetch the maximum benefits in the longer run.
🔳 Indian Stock Market is definitely a promising one, but it is always worthwhile to become a global investor to avoid single country & single currency risks.
➡️ To invest in U.S. markets, visit our platform:
https://ashutoshfinserv.vested.co.in/
➡️ The detailed explanation can be obtained from the presentation in the PDF file available in the following link or the YouTube video links stated below:
Investment in Foreign EquityLink of English language explanatory video: Link of Gujarati language explanatory video: Ashutosh Financial Services Pvt. Ltd. •Investments •Insurance •NRI Services •Income Tax & Estate Planning www.ashutoshfinserv.com Mobile: +91 73835 30919 / 93773 35959 Email: vrm@ashutoshfinserv.com Follow us using Ashutoshfinserv at Facebook, Instagram, YouTube, Twitter & Linkedin to receive all the latest information from finance world. Disclaimer: We do not intend to provide any investment advice in any manner through the above message. It is only a knowledge-sharing exercise in good faith.
LIFE INSURANCE TERM PLAN – COMPARE AND SELECT THE BEST SUITED FOR YOUR NEEDS.
Life insurance Term Plan is an insurance where you can get large amount of insurance cover at a reasonable premium amount. A term plan is the pure form of life insurance.
◾ As you get a large Lump-sum amount on your death, you can secure your family after your death and provide financial protection to your family.
◾ This term plan can be taken by anyone between the ages of 18-65. Additional insurance can be taken based on their income, health status, and current life insurance amount.
◾ Flexibility of years of insurance and premium, for how many years you want life cover and for how many years you want to pay premium.
◾ 18 year old person will be able to take a term plan of Rs 1 Crore till he reaches the age of 65, only @ Rs. 29/- premium per day. Same way 30 year old person can get @ 39/- rupees a day and 40 year old person can get @ 61/- rupees a day.
◾ Non-smoker and non-Tobacco user can get more benefit in premium.
◾ Women can get lower premium for insurance than men.
◾ You can also choose the option for refund of your all paid premiums after the end of the policy term.
◾ You can also choose additional riders such as a rider with to get a lump sum amount when critical illnesses occur or a rider with the benefit of accidental death.
◾ You can also get tax benefits under 80(C).
◾ We offer insurance plans of many companies and suggest best plan suitable for you after comparing the plans of all these companies as per your requirement. Contact us to get the best insurance plan for you.
Ashutosh Insurance Brokers LLP
•Insurance for your Life, Health, Assets & Liabilities
•Retirement Planning
•Investment through Life Insurance
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ASHUTOSH FINANCIAL SERVICES PVT. LTD.
•Investments •Insurance •Income Tax & Estate Planning •NRI Services
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Insurance is a subject matter of solicitation.
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📍 Comprehensive Financial Inventory to help individuals and families take charge of complete financial information in the event of disability or death. 📍
What is the importance & role of a ‘Comprehensive Financial Inventory’?
✅ We know the importance of preparation of a WILL for legal transfer of assets to our successors. Comprehensive Financial Inventory helps in making this process of transfer seamless and convenient.
✅ A WILL alone, may not be enough to carry out the entire transfer process without several essential data as included in this ‘Comprehensive Financial Inventory.’
✅ It is a one stop inventory for the successors to avail all the necessary financials as well as personal information of an individual in the event of disability or death.
✅ Please follow this link to view and download for free.
https://ashutoshfinserv.com/wp-content/uploads/2021/11/DETAILS-WHICH-MY-FAMILY-SHOULD-KNOW.pdf
✅ You can prepare the data on your own.
🎯 You can also avail our professional services to prepare the ‘Comprehensive Financial Inventory.’ 🎯
✅ The information in the Comprehensive Financial Inventory in many cases requires customization (data prepared according to the need of the individual), time and efforts to prepare and update the information for which our services can be availed.
Ashutosh Financial Services Pvt. Ltd.
•Investments •Insurance •NRI Services •Income Tax & Estate Planning
www.ashutoshfinserv.com
Mobile: +91 73835 30919 / 93773 35959
Email: vrm@ashutoshfinserv.com
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💫 INVEST IN SOVEREIGN GOLD BONDS (SGB)
BUY FROM US AT AN ATTRACTIVE DISCOUNT FROM THE RATES SPECIFIED BY RESERVE BANK OF INDIA. 💫
Sovereign Gold Bonds are available on resale at an attractive discount of 3% from the rates at which RBI issues the bonds. These discounts vary with different series of SGB. Hence it a very attractive opportunity to avail SGB at a discount if an investor is planning to hold these SGB till maturity.
Moreover there are several advantages of investing in SGB which are as under :
▪️ Investment in Gold without any levy of GST and rate difference on buying & selling.
▪️ Interest income @ 2.5% p.a. along with investment in Gold.
▪️ Tax Free gain on investment in Gold when bonds held till maturity.
▪️ Sovereign Gold Bonds issued by RBI are available for resale from us on all the working days.
▪️ Available in the multiples of 1 gms.
▪️ The rate of gold for the purchase of Sovereign Gold Bonds shall be the rate of gold at the time of purchase on the website of India Bullion Jewellers Association (IBJA) less the discount of 3% depending upon the series.
▪️ Eligible Interest rate of 2.5% p.a. paid on semi-annually basis.
▪️ Tenure: Original tenure 8 years, with an option to exit after the 5th year.
▪️ Tradable on the Stock Exchange.
Taxation provisions :
▪️ Interest on these Sovereign Gold Bond is taxable.
▪️ Appreciation (Capital gain) of the amount received on maturity (after 8 years) is tax free.
▪️ Capital Gains on sale in the market is liable to Short Term Capital Gain (on holding below 3 years), Long term Capital Gain with indexation benefit applicable on holding above 3 years.
GRAB THE OPPORTUNITY!
CONTACT US TO INVEST IN SOVEREIGN GOLD BONDS.
Mobile: +91 73835 30919 / 93773 35959
Email: vrm@ashutoshfinserv.com
ASHUTOSH FINANCIAL SERVICES PVT. LTD.
•Investments •Insurance •NRI Services •Income Tax & Estate Planning
www.ashutoshfinserv.com
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PODCAST FOR NRIs – TIME TO INCREASE INVESTMENT ALLOCATION TOWARDS INDIA.
Please find herewith the link for the same:
📣 Link – https://www.instagram.com/reel/CichYRZvxb6/?utm_source=ig_web_copy_link
The thoughts which have been delivered are the views of CA Rajit Kothari-Executive Director of Ashutosh Financial Services Pvt. Ltd.
Mobile: +91 72288 48181 / 7043593388
Email: nris1@ashutoshfinserv.com
NRI Services
ASHUTOSH FINANCIAL SERVICES PVT. LTD.
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Disclaimer: These are personal views of CA Rajit Kothari, which should not be acted upon without taking specific professional advice.
Please feel free to contact us.
DEPOSIT ADVANCE INCOME TAX BY SEPTEMBER 15 TO AVOID INTEREST IMPLICATIONS 📆
⬛ Every individual/company/firm/HUF whose net tax liability on the estimated income exceeds INR 10000 for the financial year shall be required to deposit advance tax.
⬛ The deposit of tax shall be in four instalments on the estimated net tax liability (after reducing taxes deposited/deducted/collected) which is calculated on the estimated income (after reducing deductions available under sec. 80C, 80D, etc.)
⬛ As per the Act, 45% of the estimated tax liability of the financial year shall be deposited by September 15.
⬛ Additional interest of 1% per month shall be levied under section 234C on the net tax liability on delay in payment of the tax.
⬛ For resident senior citizens not having income from business & profession, advance tax shall not be applicable.
⬛ Deposit advance tax timely not only to avoid interest implications, but also to become a responsible citizen of the country. 🇮🇳
Contact us:
Income Tax & Estate Planning Services
Ashutosh Financial Services Pvt. Ltd.
•Investments •Insurance •NRI Services •Income Tax & Estate Planning
www.ashutoshfinserv.com
Mobile: +91 73835 30919 / 93773 35959
Email: vrm@ashutoshfinserv.com
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IMPORTANCE OF MAKING A WILL
A valid Will under Indian Succession Act should be made in respect of his/her assets.
👉 Please find the below link for the above topic.
For further details feel free to contact us.
Ashutosh Financial Services Pvt. Ltd.
- Investments •Insurance •NRI Services •Income Tax & Estate Planning
➡️ Is it mandatory to file Income Tax Return ?
It is mandatory to file Income Tax Return if:
1️⃣ The Income exceeds Rs. 2.5 lakhs during the year (before giving effect of deductions under Chapter VI-A and certain capital gains exemptions)
2️⃣ Following categories of persons irrespective of the income:
▪️ If you have assets outside India or
▪️ Deposited an amount exceeding Rs.1 crore in current account/s by any mode during the year or
▪️ The deposit in one or more savings bank account of the person, in aggregate, is rupees fifty lakh or more during the previous year or
▪️ If his total sales, turnover or gross receipts, as the case may be, in the business exceeds sixty lakh rupees during the previous year; or
▪️ If his total gross receipts in profession exceeds ten lakh rupees during the previous year; or
▪️ If the aggregate of tax deducted at source and tax collected at source during the previous year, in the case of the person, is twenty-five thousand rupees or more; or
▪️ Incurred electricity expenditure in aggregate exceeding Rs.1 lakh or
▪️ Incurred an expenditure exceeding Rs. 2 lakh on travel out of India from bank account/s for himself or any other person.
3️⃣ Any taxable capital gain realized (Irrespective of basic tax slab exemption i.e. 2.5L).
In other cases, it is not mandatory to file an Income Tax Return. However, one may choose to voluntarily file it because of several advantages.
➡️ What are the advantages of voluntarily filing Income Tax Return?
▪️ Claiming refund of any taxes which have been withheld (TDS deducted).
▪️ Carry forward losses for claiming set-off against future year incomes.
👉 Please find the below link for the above topic.
https://youtu.be/b9qZ26fiVao
Contact us at the earliest to file your Income Tax Returns and become a compliant and proud Indian.
Kothari & Co.
A service of
Ashutosh Financial Services Pvt. Ltd.
- Investments •Insurance •NRI Services •Income Tax & Estate Planning
What are Mutual Funds ?
Why invest in Mutual Funds ?
What are the types of Mutual Funds?
What are the ways to invest in Mutual Funds ?
Why invest in Mutual Funds through ASHUTOSHFINSERV ?
Short video on all the above questions YouTube link provided
Ashutosh Financial Services Pvt. Ltd.
www.ashutoshfinserv.com
Mobile: +91 73835 30919 / 93773 35959
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Lecture delivered by Mr. Jay Vasavada – Renowned columnist & orator on the above subject at an event organized by our company for Indian Medical Association Rajkot.
👉 Please find the below link for the above topic.
https://fb.watch/dM488_E1OK/
Ashutosh Financial Services Pvt. Ltd.
- Investments •Insurance •NRI Services •Income Tax & Estate Planning
What is SIP ?
Why SIP ?
What is the process for starting SIP through ASHUTOSHFINSERV ?
Short video on all the above questions YouTube link provided
Ashutosh Financial Services Pvt. Ltd.
- Investments •Insurance •NRI Services •Income Tax & Estate Planning
▪️ Is it mandatory for a NRI to file Income Tax Return in India ❓
▪️ What are the conditions which makes it mandatory to file Income Tax Return in India ❓
▪️ What are the advantages of filing Income Tax Return in India ❓
👉 Please find the below link for the above topic.
For further details feel free to contact us.
Ashutosh NRI Services
A service of
Ashutosh Financial Services Pvt. Ltd.
www.ashutoshfinserv.com
Mobile: +91 72288 48181 / 96010 06464
Email: nris1@ashutoshfinserv.com
Follow us using Ashutosh_NRI_Services at Facebook, Instagram, Youtube, Twitter & LinkedIn to receive all the latest information from finance world.
👉 Please find the below link for the above topic.
For further details feel free to contact us.
Ashutosh NRI Services
A service of
Ashutosh Financial Services Pvt. Ltd.
www.ashutoshfinserv.com
Mobile: +91 72288 48181 / 96010 06464
Email: nris1@ashutoshfinserv.com
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A WILL valid under the Indian Succession Act should be made by NRIs in respect of their Indian Assets.
👉 Please find the below link for the above topic.
For further details feel free to contact us.
Ashutosh NRI Services
A service of
Ashutosh Financial Services Pvt. Ltd.
www.ashutoshfinserv.com
Mobile: +91 72288 48181 / 96010 06464
Email: nris1@ashutoshfinserv.com
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Life insurance (Term Plan) for NRIs (Non-resident Indians) through which NRIs can get large amount of insurance from India at a very small premium.
👉 Please find the below link for the above topic.
For further details feel free to contact us.
Ashutosh NRI Services
A service of
Ashutosh Financial Services Pvt. Ltd.
www.ashutoshfinserv.com
Mobile: +91 72288 48181
Email: nris1@ashutoshfinserv.com
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➡️ What are the Provisions under the Income Tax Act in regard to Tax Deduction at Source ( TDS) in respect of NRIs ❓
➡️ How to ensure that right amount of tax is deducted at source so that NRIs need not to fall in the hassle of claiming refund ❓
👉 Please find below the link on the above subject by Mr. Daxesh Kothari – Tax & Financial Consultant and MD & CEO of our company.
For further details feel free to contact us
Ashutosh NRI Services
A service of
Ashutosh Financial Services Pvt. Ltd.
www.ashutoshfinserv.com
Mobile: +91 72288 48181 / 96010 06464
Email: nris1@ashutoshfinserv.com
Follow us using Ashutosh_NRI_Services at Facebook, Instagram, Youtube, Twitter & LinkedIn to receive all the latest information from finance world.
Please forward this message to your friends, relatives and contacts who could be interested.
➡️ Is it mandatory for an NRI to file Income Tax Return in India ❓
It is mandatory for an NRI to file Income Tax Return in India if:
1️⃣ The Income exceeds Rs. 2.5 lakhs in India during the year (before giving effect of deductions under Chapter VI-A and certain capital gains exemptions)
2️⃣ Following categories of persons irrespective of the income:
▪️ Deposited an amount exceeding Rs.1 crore in current account/s by any mode during the year or
▪️ The deposit in one or more savings bank account of the person, in aggregate, is rupees fifty lakh or more during the previous year or
▪️ If his total sales, turnover or gross receipts, as the case may be, in the business exceeds sixty lakh rupees during the previous year; or
▪️ If his total gross receipts in profession exceeds ten lakh rupees during the previous year; or
▪️ If the aggregate of tax deducted at source and tax collected at source during the previous year, in the case of the person, is twenty-five thousand rupees or more; or
▪️ Incurred electricity expenditure in aggregate exceeding Rs.1 lakh or
▪️ Incurred an expenditure exceeding Rs. 2 lakh on travel out of India from Indian bank account/s for himself or any other person.
3️⃣ Any taxable capital gain realized in India (Irrespective of basic tax slab exemption i.e. 2.5L).
In other cases, it is not mandatory for any NRI to file an Income Tax Return in India. However, one may choose to voluntarily file it because of several advantages.
➡️ What are the advantages of voluntarily filing Income Tax Return for an NRI?
▪️ Claiming refund of any taxes which have been withheld (TDS deducted).
▪️ Carry forward losses for claiming set-off against future year incomes.
▪️ Obtaining credit of income taxes paid in India against taxes payable in the country of tax residence (where the NRI resides) as per the Double Taxation Avoidance Agreement (DTAA).
➡️ What are the due dates of filing Income Tax Return in India for an NRI?
For Financial Year 2021-22 ended on 31st March, 2022, the last date of filing Income Tax Returns is 31st July, 2022.
Contact us at the earliest to file your Income Tax Returns and become a compliant and proud Indian.
For further details, contact us:
Ashutosh NRI Services
A service of
Ashutosh Financial Services Pvt. Ltd.
Mobile: +91 72288 48181 / 96010 06464
Email: nris1@ashutoshfinserv.com
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We invite NRIs to become our REFERRAL PARTNERS for promoting NRI Services globally with attractive terms.
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