Income Tax for NRIs in India is subjected on the incomes earned or received in India. Hence, they shall comply in accordance with the law. A very famous quote on Income tax by Mr. Benjamin Franklin:
“Taxes and Death are the two inevitable things in one’s life”.
Income Tax for NRIs in India is subjected on the incomes earned or received in India. Hence, you shall have to comply in accordance with the law. As a Non-Resident Indian it is possible that you would not be aware of all the new rules and regulations that the Income Tax Department makes from time to time. The Indian Tax Department has undergone a massive change and now uses all the modern data-based technologies that ensures greater efficiency and compliance. The Income Tax Department has implemented these modern technologies to prevent tax evasion and non-compliance. So it is advisable for all the NRIs to hire a professional financial services company like Ashutosh Financial Services Pvt Ltd, which would guide them according to the rules to ensure proper compliance.
Ashutosh Financial Services has been providing Income tax Services to the NRIs and has been working as Tax & Allied Law Consultants for the past 65 years. We have a separate tax department to provide taxation-related services. Our tax department keeps itself updated with the recent changes and amendments to the Income Tax Laws to serve our investors in the best way possible. We have already provided Taxation services to more than 500+ clients spread across the world. We follow the below mentioned process to provide Income Tax Services to our NRIs.
Determining
Residential
Status :
If a Non-resident Indian has any taxable income generated in India regardless of the person being present in India or outside India, that person should file the tax return and pay applicable taxes in India.
You can check your status based on the number of days of your stay in India; in order to determine whether your tax status is: Non-resident Indian (NRI) / Resident but Not Ordinarily Resident (RBNOR) / Resident & Ordinarily Resident (R & O R). To check your tax status in India, click here.
Taxation
Consultation:
Once your residential status is determined, it would be very clear for us which rules and regulations are needed to be followed while determining your Income Tax Compliance. While preparing the tax calculation our expert team also refers DTAA or Double Tax Avoidance Agreement; which is an agreement between India and foreign countries with the basic objective to avoid taxation on incomes in both countries.
Tax
Planning:
When and how many financial transactions we should conduct in a financial year; in order to minimize the tax amount? For NRIs to conduct financial activities in India in a tax-friendly manner; one should do proper tax planning. We provide tax planning services to NRIs in accordance with the rules and regulations defined by Indian Income Tax for Non-resident Indians.
Income Tax
Return Filing:
Our tax team is having the experience of filing the tax returns for NRIs and we provide end-to-end support to NRIs for collecting data for tax filing, maintaining books of accounts, tax computation, payment of taxes, claiming of TDS, TDS refunds (if any), and filing of income tax reports.
Income Tax
Queries or Reassessment:
Our service does not end at filing of the income tax return. We also assist NRIs in cases where you receive Income Tax notices or Queries. We would represent you on your behalf in the Reassessment Procedures of the Income Tax Department. The Reassessment Procedures of the income tax department are fairly complex and require expert knowledge fortunately, our tax team has an experience of 60+ years of dealing with Indian income tax-related matters.
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If a Non-resident Indian has any taxable income generated in India regardless of the person being present in India or outside India, that person should file the tax return and pay applicable taxes in India.
You can check your status based on the number of days of your stay in India; in order to determine whether your tax status is:Non-resident Indian (NRI) / Resident but Not Ordinarily Resident (RBNOR) / Resident & Ordinarily Resident (R & O R).Resident & Ordinarily Resident (R & O R).
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