NRI Tax Services
Income tax management can be a daunting tax, especially if you are an NRI. If you are not careful, you may end up paying more tax than you should. Or worse, you may not be able to take advantage of certain deductions and exemptions that you are entitled to. That’s where a tax consultant can help you understand the requisite tax laws and help you plan your taxes to minimize your tax liability. At PKC Consultants, we have a team of experienced tax consultants who can help you with income tax needs, whether you are an individual or a corporate entity.
Our Suite Of NRI Tax Services
If you are an NRI, there are certain income tax laws that are applicable to you. Our service suite is aimed at helping NRIs with dedicated tax planning such as
Individual Tax Advisory
Individualized and comprehensive tax advisory services for NRIs such as preparing and filing income tax returns, planning your taxes according to the latest law changes, and more.
Capital Gain Advisory
Dedicated advisory services for NRIs on capital gains such as long-term and short-term gains, exemption from tax on the sale of property, and more.
Corporate Tax Advisory
Tax advisory services for NRIs who are running a business in India such as structuring your business to minimize tax liability, preparing and filing corporate tax returns, and more.
Internal Audit
A comprehensive internal audit of your financial statements to check for any irregularities and protect you from any legal implications.
CFO services
Comprehensive services for NRIs who need CFO assistance such as bookkeeping, financial statement preparation, budgeting and forecasting, and more.
Accounting services
End-to-end accounting services for NRIs such as maintaining your books of accounts, preparing financial statements, and budgeting and forecasting.
Our End-to-end Process For Returns Filing
We follow a systematic and methodical process for filing your income tax returns. The usual steps include
01
Information Gathering :
The process begins with gathering all the relevant information and documents required to file your return. This includes your bank statements, investment records, etc.02
Assessment of Income :
Once we have all the required information, our team of tax consultants will assess your income and determine the tax liability.03
Preparation of Computation Sheet :
A computation sheet is prepared for your perusal that details the income and deductions claimed. It is then used to prepare the income tax return.04
Filing of Return :
The income tax return is filed electronically with the Income Tax Department with all the required documents.05
Follow Up :
Once the return is filed, our team will follow up with the department to ensure that the return is processed correctly and the requisite acknowledgement is generated.06
Issue of Refund :
In case there is a refund due, the Income Tax Department will issue a cheque in your name.Why Opt For NRI Tax Services With PKC Consultants?
As an NRI, you are bound to face a lot of complications when it comes to filing your taxes. You may have to deal with double taxation along with keeping up with the ever-changing tax laws in India. Moreover, handling banks might be a huge hassle due to remote management needs or complex processes. This is where PKC Consultants can help. With a team of experienced chartered accountants who specialize in NRI tax services. We can help you with all aspects of your taxation, from filing your returns to handling double taxation.
Our Service Suite includes
Individual Tax Advisory
- Tax Planning
- Income Tax Return Filing
- DTAA Advisory
Capital Gain Advisory
- Planning for Tax & Property Sale
- Succession & Inheritance Planning
- Repatriation Advisory & Assistance
Capital Tax Advisory
- Company Law Compliances
- Income Tax Audit & Filing
- Registration – GST / PAN / TAN / STPI (For IT Companies) / Import Export
- Internal Audit
- CFO services
- Accounting services
Frequently Asked Questions
The main taxes that NRIs have to pay are income tax, capital gains tax, and gift tax. Other taxes may also be applicable based on the sources of income.
Yes, it is always advisable to maintain records of all income earned, both in India and outside India. This will help you in arriving at your total income for the year and also help you claim any deductions or exemptions that you may be entitled to.
Yes, most of these deductions are available for a maximum amount of INR 1.5 lakhs of the gross total income.
Deduction types allowed to NRIs include life insurance premium payments, principal repayments on loans to purchase house property, any investments that have been made in ELSS, tuition fee payments of children, and Unit-Linked Insurance Plan (ULIP), etc.
If the business has been set up in India, then yes. However, if the business is based outside India, then the income from it will not be taxable.
