NRI tax filing services
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K M GATECHA & CO LLP provides NRI tax filing services.We have a potent team of experts to assist you with tax planning, tax return filing, compliance with various laws and transactions, purchase, and sale of property and liaisoning services. NRIs find it exceedingly difficult to manage their finances in India due to several reasons. The taxation system in India itself is complex and constantly evolving due to the nature of economy of India (developing). Even the residents of India itself find it difficult, let alone NRIs, to stay up to date with the amendments or new introductions in laws or regulations or even small modifications in certain laws which results in small to notable change in their tax liabilities. Then there is the topic of compliances which NRIs need to fulfill. This is where we, K M Gatecha & Co LLP, come to assist you, the NRIs with the best of services that can be provided in Ahmedabad (for sure) and one of the best in India, with all the processes and compliances.
NRI Tax Filing Services
NRI tax return filing NRIs are required to file tax/IT returns for all and any income that is accrued in India or by services provided in India though their Income is exempt from most taxes. Our team at K M Gatecha & Co LLP has comprehensive knowledge, experience and understanding of the NRI taxation services which not only result in better service but also accelerates and eases the entire process of preparing and filing Tax returns for our esteemed clients.
Property Sale and TDS compliance
Apart from filing of tax returns we also assist and empower our NRI clients by managing their property and other investments in India. We diligently work towards saving your time, money and ease the fiscal management aspect of your investments.
NRI Tax consultancy
We at K M Gatecha & Co LLP use the full potential of the expert team to provide you with state-of-the-art tax consultancy services to manage your tax matters and compliances.
We aim at maximizing not only the wealth but also the value of the wealth for our clients, and so we provide commercially focused tax advisory services. We focus on understanding your understanding your business or job beyond our own expertise so that our aim is coordinated with yours regarding what is your vision regarding the business and investments, and thus we customize our solution according to your vision.
We adopt a vision-oriented approach to maximize the results all while optimizing tax compliance with the NRI taxation regulatory framework.
The NRI taxation services include liasoning services for NRIs who intend to set up a branch office or liaison office in India under RBI permissions.
The team at K M Gatecha & Co LLP has good knowledge and experience at handling all the steps required for setting up the same starting from understanding the right structure for the organization to completing the set up and commencement of operations in India.
We help you in creating and structuring the optimum entry strategy for India and along with that we liaison with various authorities to ensure smooth flow of the operation regarding the compliance with all statutory registrations.
We assist the organizations in evaluation of the best structuring options, selection of the optimum option based on their goals and economic situation of the market as well as organization, fulfilling required approvals, documentation, attestation requirements and annual compliance matters.
Tax planning services
The Taxation in India itself is overly complex and evolving but it gets even more complex and time consuming when it comes to matters of NRIs inheriting assets in India, setting up base in India, Returning NRIs and the new NRIs, as they do not understand the exemptions, deductions and mandatory requirements.
K M Gatecha & Co LLP comes to the rescues of all the NRIs along with our professional, well-read, and proficient NRI tax consultants who with all the experience help you in proper tax planning which minimizes and optimizes your tax liability in the country.
We also provide professionals and consultants to the NRIs who aim at liquidating all their inheritance or remunerate the sales proceeds of the same or manage it to achieve optimum tax efficiency and there by achieving reduction in tax liability.
Tax planning is also a crucial aspect for returning NRIs and first-time emigrants, and it is our basic parts of Tax Planning Services.
Other professional Services
- Determination of residential status according to Income Tax Act 1961
- Professional support in filing PAN applications
- Advisory on FEMA
- Tax planning to optimize your tax liability under DTAA
- Tax representation before tax authorities for any anomalies or clarifications
- Opening NRE, NRO and FCNR accounts
- Transfer of funds from NRE or NRO accounts
- Handling of Inheritance and wealth tax
- Banking and remittances
- Repatriation of capital and income
- A person is a resident of India according to Income Tax Act 1961 if:-
- He/she is in India for 182 days or more in the previous year
- He/she is in India for 60 days or more in the previous year and 365 days or more in the years immediately preceding the previous year
- If an Indian Citizen or person of Indian origin comes on a visit to India or if and Indian citizen is going abroad for employment during the previous year, then in the second condition 60 days is replaced by 182 days.
- Person of Indian origin is a person who or whose parents or grandparents were born in any region of Undivided India.
- A company is a resident of India if the company is Indian or during the previous year, the control or management was situated in India.
An NRI is a person who does not fulfill the above conditions of being a resident of India.
- Dividends from shares of domestic companies
- Interest on NRE and FCNR (Foreign Currency Non-Repatriable) accounts
- Long term capital gains from listed equity shares as well as equity oriented mutual funds
- Interest on government issued savings certificates and notified bonds
- An Indian Resident can be either Resident and Ordinary Resident (ROR) or Resident but Not Ordinarily Resident which depends on the fulfillment of the following two conditions. If both the conditions are fulfilled, then the person is ROR otherwise he/she is RNOR
- Residing in India in any of the two out of ten previous fiscal years preceding the previous year and
- Physical presence in India for 730 days or more in the seven previous fiscal years preceding the previous year.