Key Features of NRI ITR Plan
- Indians working on-site (earning salary income outside india)
- Indians having assets or bank accounts/ assets abroad
- Foreign nationals earning salary/ owning assets in India
What does our plan include:
- Skype/ Email/ Call support in your time zone
- Tax saving suggestions from our CA
- Guidance on double taxation avoidance agreements (DTAA) and other foriegn income topics
- Declaration of foreign assets for Indian residents (including Schedules FA, FSI and TR)
Have a question ? Feel free to contact us
Frequently Asked Questions
Filing of return is compulsory so as to avoid double taxation i.e.taxation in two countries or to claim tax refund if your income is in the exemption limit(i.e. Rs.2,50,000). For example- Fees for Technical Services or Royalty recd. from a business established in India, Income from transfer of Capital Asset situated in India etc.
This depends on your residential status. In most cases, if you are in India for 182 days or more during that financial year, you will be considered a resident. If you are a foreign national living within India, you may be considered a ‘Resident Indian’for tax purposes So, if you are a Resident, then you are required to file a normal tax returm otherwise else an NRI return.
DTAA(Double Taxation Avoidance Agreement)is an agreement in between India and other countries so as to avoid double taxation of the same income of the same person in more than one country. Double taxation can be avoided through DTAA which determines whether an Income taxable in two countries is to be exempted or to be taxed at a lower rate or else to be allowed tax credit For this, you are required to provide us with the Tax Residency Certificate(TRC) issued by the country where you presently reside.
NRI return is to be filed by NRI or foreign nationals who has any income taxable in India and the resident who has any income from outside India while Normal Return is that return which is to be filed by residents who only have Indian source or receipts of income.
Taxraahi team will provide you with experienced and professional CAs who would be having expertise in taxation of foreign income and they will help you in tax savings, avoiding double taxation and helping Indian residents in declaration of inome from foreign assets/bank accounts.
A person holding foreign stocks/assets is required to file NRI return so as to avoid double taxation, penalties and to claim tax refund, if any.
You are not required to file any return when your income consist only of investment income or income by way of Long term Capital Gains from foreign exchange specified asset or both and TDS has been deducted from such income.