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NRI Tax Planning Services NRI Tax Planning Services

NRI Taxation Services

Citizens of India or Persons of Indian Origin (PIO) who live out of India are called NRIs. 95% of NRIs maintain residences, properties, investments, and businesses in India and therefore it becomes essential to understand the tax implications of the same as per Indian tax laws. Dinesh Aarjav & Associates has been providing NRI taxation services for more than two decades now with a focus on providing personalised solutions for our NRI & OCI clients to meet their financial goals.

Our team of experienced NRI tax consultants specialise in offering NRI tax advisory services to reduce your income tax burden and ensure adherence to Indian tax regulations. We guide NRIs to navigate the complexities of tax structures for investments and businesses in India, providing advice on the most tax-efficient methods for remitting funds. Reach out to us today and let our expertise in NRI tax planning services help you meet your taxation needs

NRI Taxation Services

Benefits of our NRI Tax Planning Services

Our NRI Taxation services are dedicated to assisting non-resident Indians in achieving their financial objectives while ensuring compliance with tax regulations and optimising tax benefits. Our services are tailored to provide a deep understanding of international tax laws, ultimately minimising tax liabilities. By leveraging the expertise of our NRI tax consultancy in India, clients can capitalise on exemptions and deductions.

Furthermore, our NRI tax experts, strategically located in our offices in London, United Kingdom, Los Angeles, United States of America, and Toronto, Canada, play a crucial role in aligning tax planning with both the local taxation laws of the country of residence and those of India. This global perspective enhances our ability to effectively manage income derived from various sources and maximise the advantages offered by international tax agreements. Our comprehensive NRI tax advisory services not only encourage prudent investments but also foster wealth growth while ensuring adherence to tax regulations

  • Our NRI Taxation Services Includes

    • Filing of Income Tax Returns (ITRs) for individuals or businesses along with assistance in claiming Tax Refunds, if any.

    • One-stop solution for Income Tax Planning - Being a global firm with offices in US, Canada, UK and India, we have the required knowledge, expertise and skills required for the local taxes and laws of these respective countries to offer a one-stop solution for planning the Tax of Country of residence (US/ Canada/ UK/ UAE / Australia) and India at the same time.

    • Planning your taxes to minimize the tax liability in case of sale of property in India - Capital Gains accruing and arising from sale of property in India are taxable in India irrespective of the country you reside in. Our team of NRI specialized Tax experts work out a tailor-made solution as per your requirements and suitability to claim appropriate exemptions available under sections 54, 54F, 54EC etc.

    • Planning the date of Moving out of India / Moving back to India to minimize the tax liability

    • Avoiding Double Taxation - By pursuing DTAA relief between the two countries (Country of residence and country of source of Income), we assist NRIs in preventing double taxation.

    • Assistance in income tax scrutiny and assessment/audits

    • Advisory And Assistance For Remittances In and Out of India - Depending on the specific requirements of our NRI clients, we assist in sending money to India via an approved remittance channel to ensure accurate reporting since this is essential for the future repatriation of funds outside India with ease. NRIs can repatriate up to USD 1 million per calendar year, provided they've paid the applicable income tax.

    • Assistance in complying with the Foreign Exchange Management Act (FEMA) regulations related to foreign remittances along with the Certification services under FEMA/ Income Tax

    • Consultancy around Investment options for claiming around income tax deductions available under section 80. Some of the common investment options being:

      1. Public Provident Fund
      2.  Life Insurance
      3. Specified FDs
      4. Repayment of Principal amount of Home Loan

Asked Questions

  • Q: When are you considered as a Non-Resident Indian (NRI)?

    A person who is not a resident of India is considered to be a Non-Resident of India (NRI). You are a resident if your stay in India in a given financial year for : 182 days or more 60 days or more and 365 days or more in the 4 immediately preceding previous years. In case you do not satisfy either of the above conditions, you will be considered an NRI.

  • Q: When should an NRI file his return of income in India?

    An NRI, like any other individual taxpayer, must file his return of income in India if his gross total income received in India exceeds Rs 2.5 lakh for any given financial year. Further, the due date for filing a return for an NRI is also 31 July of the assessment year or extended by the government.

  • Q: Is Income Tax Act applicable only to residents?

    No, the income tax act applies to all persons who earn income in India. Whether they are resident or non-resident.

  • Q: How is resident/ non-resident status relevant for levy of income tax?

    In case of resident individuals and companies, their global income is taxable in India. However non-residents have to pay tax only on the income earned in India or from a source/activity in India.

  • Q: I own shares of various Indian companies and receive dividends. Is it taxable?

    Yes, the dividend declared by Indian companies is taxable in the hands of the shareholders at the rate of 20.00% without providing for deduction under any provision of income tax act.

  • Q: I am going out of India. Who will file my income tax return for this period?

    You can authorize any person by way of a power of attorney to file your return. A copy of the power of attorney should be enclosed with the return.

  • Q: Does an NRI also have to pay advance tax?

    Yes, if an NRI’s tax liability is expected to exceed Rs. 10,000 in a financial year, he must pay advance tax. Interest under section 234B and section 234C will be levied if advance tax is not paid.

  • Q: I am planning to move out of India. Is DTAA relevant for me ?

    It is also good to check whether the country of migration has a DTAA (Double Tax Avoidance Agreement) with India. There are many countries with which India has a tie-up to ensure there is no double taxation on income earned in one country and taxes are paid in both countries. This is to ensure that taxes are not paid twice.

  • Q: Is it mandatory for an NRI to file an Income Tax return in India?

    Yes, an NRI becomes obligated to file an Income Tax return in India if their total Indian income surpasses Rs. 2,50,000 in a specific financial year. Moreover, in cases where tax deduction at source exceeds the actual tax liability on any NRI income, filing a return is essential. Only after filing the income return can NRIs claim a refund along with accrued interest.

  • Q: Can NRIs claim tax benefits in India for investments made abroad?

    No, tax benefits in India are generally applicable to investments made within the country. Investments made abroad may not qualify for the same benefits.