NRI Compliances



NON RESIDENT INDIANS WHO HAVE/ INTEND TO HAVE INVESTMENTS IN INDIA

For Non-resident Indians who have certain investments, property and bank accounts in India, we manage their financial affairs in India entirely as follows:

    
Monitor record and periodically report on his investments.
    
Facilitate repatriation of sale proceeds of investment and property.
    
Facilitate repatriation of income from investments and rent from the property let out.
    
Plan NRIs financial transactions to minimize his tax liability in India.
    
File Income Tax return.

For Non-resident Indians who wish to invest in stock market, property etc., we offer the following services:

    
Devise a personal financial plan.
    
Facilitate acquisition/ lease of property through a top-notch property consultant.
NON RESIDENT INDIANS WHO INHERIT ASSETS IN INDIA

A NRI who inherits assets in the form of investments, property etc. in India and wishes to either liquidate them and repatriate the sale proceeds of the same or manage the same in most tax efficient manner, we assist him in accomplishing these objectives by facilitating the clearance from Income Tax, RBI and other regulatory authorities .

NON RESIDENT INDIANS/ OTHER NON-RESIDENTS WHO HAVE/ INTEND TO SET UP A BUSINESS IN INDIA

A NRI/ other non-resident businessman who intend to establish business in India, we help him to do so by providing the following services:

  • Develop an entry strategy and a financial model.
  • Undertake location studies and recommend the ideal location.
  • Arrange for complete set of regulatory approvals.
  • Arrange funds for the project by preparation of a detailed project report and liaison with banks/ financial institutions/ joint venture partners.
  • Facilitate incorporation of a company, LLP & other forms of organization in India.
  • Organize office infrastructure and manpower during the “in-transit period” of the startup or operate as a representative office.

A NRI/ other non-resident who already have a business in India, we help him by way of operating as a representative office/ by managing specific business processes along with providing the entire gamut of financial and consultancy services.

RETURNING NRI

A returning NRI who wants to retain/ disinvest assets (property, investments, and business) procured outside India and re-invest outside India the income/ sale proceeds thereof. We provide him assistance as follows:

    
Facilitate clearance required under FEMA from RBI to continue to hold assets outside India.
    
Facilitate re-investment of sale proceeds of assets acquired outside India.
    
Plan residential status under FEMA and Income Tax.
    
Plan tax liability in India.
    
Make fresh investments in business outside India.
    
Investment and business consultancy in India.
EMIGRATING INDIAN/ NEW NRI

An emigrating Indian/ new NRI wants to retain/ disinvest assets (property, investments, business) acquired in India and repatriate the income/ sale proceeds thereof. We help him to do so as follows:

    
Obtain clearance required under FEMA from RBI in order to continue to hold certain assets in India.
    
Facilitate repatriation of sale proceeds and income of assets held in India.
    
Plan his tax liability in India.
    
Monitor record and report on his investments in India.
NRI PERMANENT ACCOUNT NUMBER (PAN)

Non-resident individuals and organizations require to have a Permanent Account Number (PAN) number if they earn an income and need to file returns in India. PAN is issued by the Income Tax (IT) Department to all assesses and quoting of PAN is mandatory in all returns filed with the IT department.

Permanent Account Number (PAN) is a Tax identification number, issued to all taxpayers of India whose income is taxable. It can also be issued to non-taxpayers. The primary purpose of PAN is prevention of tax evasion by keeping a track of monetary transactions. All existing assessees or taxpayers or persons who are required to file a return of income, even on behalf of others, must have a PAN. Quoting PAN is mandatory for any person, who wishes to enter into economic or financial transactions. NRI is required to quote the PAN on below documents :

  • Return of income.
  • All correspondence with any income tax authority.
  • All documents pertaining to financial transactions notified from time-to-time by the Central Board of Direct Taxes (CBDT).
  • Application for obtaining a telephone or cellular telephone connection.
  • Application for making a time deposit of Rs.50,000/- or more with a Bank or Post Office or NBFCs or depositing cash of Rs.50,000/- or more in a Bank.