NRI Taxation Services
NRI Income Tax Services
It gets challenging for NRIs to manage their finances in India while staying updated on amendments or new regulations that may impact their tax liabilities and compliance obligations. BEETA ONE is a leading provider of NRI taxation services, offering expert guidance on these matters. Our proficient tax professionals assist NRIs with tax planning, return filing, compliance with laws, property transactions, and liaisoning services. With extensive experience in NRI income tax matters, we ensure seamless management of their financial and taxation needs.
NRI Taxation Services
NRI Tax Return Filing
NRIs must file income tax returns in India for any income earned within the country, even though much of their income is exempt from certain taxes. At BEETA ONE, our expert team’s in-depth knowledge of NRI taxation ensures efficient preparation and filing of non-resident Indian income tax returns, delivering reliable and tailored services to meet their unique needs.
Property Sale and TDS Compliance
As a part of our NRI Income Tax Services, we help our NRI clients in handling their property and other investments in India to save their time investment in financial management in India:
NRI Tax Consultancy
At BEETA ONE, we offer expert NRI taxation consultancy services to manage tax matters and compliance seamlessly. Our goal is to maximize the wealth and value of our NRI clients by providing commercially focused tax advisory solutions. By understanding each client’s unique business, profession, or investments, we tailor our services to meet their specific needs, adopting a results-driven approach to optimize tax within the regulatory framework.
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Liaisoning Services
Our NRI Taxation Services include liaisoning services for NRIs intending to set up a branch office or liaison office in the country under RBI permissions. Our team of NRI tax consultants has extensive experience in handling such transactions – starting from understanding the right structure for the overseas company to the actual set-up of the company’s operations in India. We assist in devising the India Entry strategy and liaising with various authorities to ensure compliance with all statutory registrations. Additionally, we support our foreign clients in evaluating structuring options, selecting the best option based on their goals and economic situation, fulfilling related approvals, documentation, and attestation requirements, and handling annual compliance matters.
Tax Planning Services
NRIs often face complexities in managing taxation matters related to inherited assets, setting up a base in India, returning to the country, or navigating tax obligations as new emigrants. These challenges arise from a lack of clarity regarding exemptions, deductions, and mandatory requirements. Our skilled team of NRI taxation consultants provides expert guidance to ensure effective tax planning, helping clients minimize their tax liability. We assist NRIs in liquidating inherited assets, repatriating sale proceeds, or managing them for optimal tax efficiency. Additionally, our services include tailored tax planning for returning NRIs and first-time emigrants, making it a key component of our NRI Taxation Services.
Other professional services
In addition to all the taxation-related services for NRIs, we provide other professional services that include:
Frequently Asked Questions(FAQ,s)
Who is a resident of India?
An individual is said to be resident in India if he/she satisfies the following conditions:
- If he/she is in India for a period of 182 days or more during the previous year; or
- If he/she is in India for a period of 60 days or more during the previous year and 365 days or more during four years immediately preceding the previous year.
In the second bullet point, 60 days is replaced by 182 days in case of an Indian citizen or a person of Indian Origin coming on a visit to India or 182 days in case of an Indian citizen going abroad for employment during the previous year. Here, a person is considered to be of Indian Origin if he/she or either of his/her parents or any of the grandparents, was born in undivided India. A company is a resident in India if it is an Indian company or during the previous year, the control and management are situated wholly in India.
Who is an NRI?
An individual who is not a resident of India is a Non-Resident Indian (NRI).
What are the incomes that are exempt for NRI?
Following incomes are exempt from tax in the hands of an NRI:
- Dividends from shares of domestic companies
- Interest on NRE & FCNR(Foreign Currency Non- Repatriable) account
- Interest on government-issued savings certificates and notified bonds
- Long term capital gains from listed equity shares and equity-oriented mutual funds
What is the difference between ROR and RNOR?
A resident of India may qualify as either resident and ordinarily resident (ROR) or resident but not ordinarily resident (RNOR). If, in addition to satisfying both the conditions for a resident, the individual satisfies the below two conditions, he/she is considered as ROR
- Resident in India (as per the basic conditions mentioned above) in any two out of 10 previous financial years preceding the previous year and
- Physical presence in India is 730 days or more in the seven previous financial years preceding the previous year
If even one of the above conditions is not satisfied, then he/she is considered as RNOR.
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