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NRI Services/NRI Solution/NRI Systems

1. Income tax filing

The income tax rules and perks are different for those who are non-residents of India. The income earned by an NRI becomes taxable based on the residential status for that particular year.

For example if the NRI receive the salary directly into an Indian Account then it will be subject to income tax under the respective tax slabs.

Tax incidence in case of NRI's:

Nature of income	Taxability in the hands of NRI
Income which accrues or arises in India	Taxed
Income which is deemed to accrue or arise in India	Taxed
Income which is received in India	Taxed
Income which is deemed to be received in India	Taxed
Income accruing outside India from a business controlled from India or from a profession set up in India	Not Taxed
Income other than above (i.e. income which has no relation with India)	Not Taxed

Punith and Associates are serving various NRI's in terms of filing income tax, if you are an NRI and need help in this regard reach us at info@capunith.com

2. TDS on property sales

Tax deducted at source is the tax paid by the receiver of goods and services on the overall amount from the provider under Income Tax Act 1961 in India.

What if an NRI is involved in these transactions? In such instances the NRI sellers would be paying the tax applicable which is being explained under Section 195 of Income Tax Act.

Any sale of assets attracts capital gain taxes and the buyer is obligated to deduct such taxes (TDS). Hence to benefit from the capital gains amount the NRI's seek advice from us before taking actions to avoid tax consequences.

Punith and Associates are serving various NRI's in terms of TDS on sale of property, if you are an NRI and need help in this regard reach us at info@capunith.com

3. Lower tax certificate on sale

In case of capital gains earned by an NRI at the time of sale of property, by commission, by rent, by royalty are subject to TDS under Section 195 of Income Tax Act. NRI can avail for lower tax deduction with the income tax Assessing officer in case he is planning to reinvest the capital gains.

The NRI has to submit an application in the Income tax department under jurisdiction his PAN belongs to along with few documents such as:

Passport
PAN
Sale Agreement/ Deed
Income Tax Returns
Bank Statement

Punith and Associates have assisted NRI's in dealing such taxation issues. If you are an NRI and need help in this regard reach us at info@capunith.com

4. Repatriation of funds from India

Authorized Dealers can allow remittance(s) upto USD 1 million, of balances in NRO (Non-resident ordinary rupee) accounts/of sale proceeds of assets on production of an undertaking by the remitter together with a certificate issued by a Chartered Accountant in Annexure A and B as prescribed by the Central Board of Direct axes (CBDT).

All remittances made outside India are required to be made net of applicable taxes. While remitting funds overseas, a Form A2, a Chartered Accountant's certificate in Form 15CB and a self-declaration in Form 15CA are required to be furnished to the bank, confirming that applicable taxes have been deducted and deposited into the government treasury.

Punith and Associates have assisted NRI's in dealing such remittance issues. If you are an NRI and need help in this regard reach us at info@capunith.com

5. Setting up of new venture in India

India is the most preferred destination for NRI's to start a business or for investment as it is one of the fastest growing economies in the world with plenty of opportunities, but there are various procedures to set up a firm by an NRI as they face difficulty in diverse aspects.

A range of background works have to be geared up by an NRI to set up a new venture in India, hence Punith and Associates seems to be the right solution as we address the challenges faced by NRI's and assists them with the requirements.

If you are an NRI and need help in this regard reach us at info@capunith.com

6. Other taxation services

Though Indian laws have been made simpler for the NRI's tax planning is must to ensure that they are not being taxed twice. We at Punith and Associates would also assist the NRI's in areas such as addressing income tax scrutiny notices, assisting them in crucial tax planning and draw an sound plan to manage their Indian as well as global income/ tax exposures.

Punith and Associates have assisted NRI's in tax planning and scrutiny notices. If you are an NRI and need help in this regard reach us at info@capunith.com

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