TDS on Sale of Property in Gurgaon

#TDSforNRIsellingproperty #TDSonsaleofpropertybyNRI #TDSfrombuyingpropertyfromNRI#LowerrateofTDS #TDScertificate197 #TDSoncapitalgainforNRI

Know your TDS obligations if you are buying a property from NRI

When an NRI sells a property in India, the buyer needs to deduct TDS on the payment of purchase consideration.

• In the recently announced Union Budget 2019, the surcharge on income-tax for individuals has been increased to a maximum of 37%.
• The rate of TDS can be as high as 28.50% of the sale value on long term capital gain (property held for more than 2 years).
• The rate of TDS can go up to 42.74% of sale value on short term capital gain (property held for less than 2 years), if the property value is more than INR 5 Cr.
• Income tax law provides that a lower TDS certificate can be obtained from income tax authorities, considering the actual profit earned by NRI on the deal. Lower TDS certificate can be obtained at a rate as low as 3.12% of the sale value (as per present guidelines - July 2019)

Let me clarify most common confusion first, TDS of 1% u/s 194IA is not applicable if seller is NRI. TDS u/s 194IA is only applicable for resident Indian sellers.

Taxation on Sale of Property by NRI’s (Non Resident Indians) is bit confusing subject. This confusion is caused due to lack of information and improper explanation. Sometimes it is in the interest of few professionals to complicate things and confuse NRI clients to maximize their gains. In most of the cases, I observed that neither buyer nor NRI seller are aware of what to do.

Tax deduction at Sourse (TDS) on Sell of Property by NRI- Non Resident

Let me admit that Income Tax Act is not that complicated but it is in the hands of people who interpret it to make it complicated or simplified. To start with, Selling of property by NRI is taxable under u/s 195 of the Income Tax Act, 1961. I will discuss how to deduct TDS u/s 195!

NRIs who want to sell any house property that they may have in India. As the property situated in India, hence situs to tax in India this article elaborate how much tax is payable and TDS deductible in case of NRIs who want to sell property in India.

NRIs who are selling house property which is situated in India have to pay tax on the Capital Gain. The tax that is payable on the gains depends on whether it’s a short term or a long term capital gains.

When a house property is sold, after a period of 2 years from the date it was owned – there is a long term capital gain. In case it held for 2 years or less – there is a short term capital gain.

Tax implications for NRIs are also applicable in the case of inheritance. In case the property has been inherited, remember to consider the date of purchase of the original owner for calculating whether it’s a long term or a short term capital gain. In such a case the cost of the property shall be the cost to the previous owner.

Buying property from NRI check consequences of non deduction of tax (TDS) ?

How much tax is payable and deductible by buyer?

As per the Indian Income Tax Act, when a resident purchases any property from a non resident, he has to deduct income tax (TDS) and pay the balance amount to the seller.

Not many people know that Capital Gain Taxation is same for both Resident Indians and NRI’s but only difference is in calculation and deduction of TDS. Since NRI is staying outside India therefore it is very difficult to ensure capital gain tax compliance after the property transaction is completed. In order to ensure compliance, Income Tax Department came out with an innovative idea to ensure that buyer deduct TDS at the time of making payment to NRI seller. TDS u/s 195 is deducted only to ensure capital gain tax compliance.

When an NRI sells property, the buyer is liable to deduct TDS at the rate of:-

• Long term capital gains are taxed at 20% {22.88%}, He has to deduct 20% of the sale consideration as tax before making the net payment to seller. and
• short term gains shall be taxed at the applicable income tax slab rates i.e. 30% (31.20%)

Procedure aspect

Buyer should first obtain TAN under section 203A of the Income Tax Act, 1961 before deducting TDS. TAN can be obtained by applying buy filling up the Form 49B.

TDS must be deducted at the time of making the payment to the NRI. The information about the TDS being deducted and the rate at which it was deducted should be mentioned in the sale deed between the NRI seller and the buyer.

The TDS deducted by the buyer should be deposited through Form number or challan for TDS payment on or before the 7th of next month in which the TDS is deducted.

The TDS can be deposited through banks that are authorised by government of India or the Income Tax Department to collect Direct Taxes. The deposit has to be made by the buyer!

TDS Refund by NRI’s

You can claim TDS refund if can show proof of reinvestment of capital gains in India. You can either buy another house in India or invest in capital gains bonds u/c 54EC. You should submit an affidavit stating that you will invest the capital gain amount in capital gain bonds. For property purchase you can produce allotment letter or payment receipts of the builder.

Instead of claiming refund which is more tedious process it is always advisable to apply for NIL Tax Deduction / Tax Exemption / Lower Tax Deduction Certificate. It require some intelligent planning before sale of property and proactive approach.

197 NIL/ LOWER TDS Certificate by NRI Property Seller

How NRI’s can lower TDS on Property Sale?

As we discussed above basics of TDS on Property Sale by NRI. Now we understand how my NRI friends can lower the TDS on Property Sale. Before you decide to go ahead with property sale following 2 points should be considered

Type of Capital Gain from Property Sale i.e. Short Term Capital Gain or Long Term Capital Gain

Whether i am willing to pay capital gain tax or would like to save capital gain tax by Re-investment of capital gains- claiming exemption u/s 54/ 54F

Once these 2 points are clear then we are ready for property sale in India.

Illustration:- I will try to keep this illustration very simple as there is a common perception that this subject matter is complex!

This post is dedicated to my NRI friends who would like to know about their TDS liability at the time of sale of Property in India.

Mr. NRI who leave in India having a residential accommodation in Gurgaon!

Now he want to sell his Gurgaon flat which is long back investment property at a sale consideration INR 2.50 crore and want to invest in another Flat in Bangalore!

Therefore 1st task is to calculate long term capital gain of Mr. NRI. Indexed cost of acquisition of property is approx INR 1.50 Crore and he is selling it for 2.5 Cr. Long Term Capital Gain from property sale is approx 1 Crore and corresponding Long Term Capital Gain Tax at 22.88% is 22.88 Lakh.

If in case of Mr. NRI, buyer deduct TDS at 22.88% u/s 195 then TDS will be deducted on sale consideration value i.e. 2.5 Cr. TDS u/s 195 will be approx INR 57.20 Lakh against Mr NRI Long Term Capital Gain Tax liability of 22.88 Lakh. In short, u/s 195 excess TDS to the extent of INR 34.32 lakh will be deducted assuming Mr NRI decided not to re-invest capital gains from property sale.

Further suppose he invested sale proceeds of Gurgaon flat into Bangalore Flat than excess TDS on account of LTCG of Gurgaon flat for which exemption u/s 54 is available in this context of excess TDS u/s 195 to the extent of INR 22.88 lakh deducted can be save by applying NIL/ Lower rate TDS Certificate from Income tax department.

Buyer Liable to deduct TDS on entire sale consideration. Now anomaly in this rule is that NRI is liable to pay Capital Gain Tax only on the Capital Gain arising out of sale of the property but unfortunately TDS is deducted on the total Sale Value of the property. Therefore in most of the cases there are no GAINS as such from the sale of property and actually NRI incur LOSS from the sale of the property if TDS refund is not claimed. As a result, NRI has to go through the process of claiming TDS refund from Income Tax Department.

The buyer of the flat liable to deduct 22.88% TDS on sale consideration i.e 22.88% of INR. 2.50 crore!

But for saving point of view he can claim Indexation benefit for which he NRI Seller can apply for Nil Tax Deduction or Lower Tax Deduction with Income Tax Assessing Office. In case, NRI seller is planning to re-invest capital gain as i mentioned earlier then he can apply for tax exemption certificate. Based on assessment by Income Tax Department, certificate will be issued to NRI seller for property sale. In this case, buyer will not deduct TDS u/s 195 on sale consideration value. In above example, if Mr NRI get certificate from Income Tax Department then buyer will pay full consideration i.e. 2.5 Cr to Mr. NRI without deducting any TDS. NRI seller can handover original Nil Deduction Certificate to the buyer for his reference. In short, buyer need not to file any TDS in seller’s name as TDS will not be deducted in this case. Income Tax Department will issue separate certificate to NRI seller for TDS on capital gains. For Tax Exemption Certificate, NRI seller can submit application in Income Tax Department under whose jurisdiction his / her PAN belongs to. To know the jurisdictional IT office of PAN.

In few cases I observed that TDS is not applicable on property sale as NRI seller obtained NIL Deduction or Tax exemption certificate but then buyer deducted TDS u/s 194IA just for the sake of deducting TDS. In such cases, full payment should be released to NRI seller for property sale and buyer should obtain Nil deduction certificate / Tax Exemption Certificate from NRI seller.

After point 1 i.e. calculation of capital gain, there are 3 possible scenarios

(a) Capital Gain is Zero or there is Capital Loss on Property Sale: In this case NRI Seller can apply for NIL Tax Deduction Certificate.

(b) NRI Seller is willing to pay Actual Capital Gain Tax i.e. if Actual Capital Gain Tax liability is less than TDS u/s 195: In this scenario, based on capital gain tax calculation NRI seller can apply for Lower tax Deduction Certificate. In above example, Mr. NRI can apply for Lower Tax Deduction Certificate as actual long term capital gain tax liability is only 22.88 lakh against TDS of 57 lakh u/s 195.

(c) NRI seller is willing to re-invest capital gain to save capital gain tax: In this case, NRI Seller can apply for Tax Exemption Certificate.

How to apply for Nil / Lower Tax Deduction Certificate or Tax Exemption Certificate on Property Sale

Documents Required:

(a) Passport and PAN

(b) Sale Agreement / Sale Deed

(c) Income Tax Returns

(d) Bank Statement

(e) Any other document deemed relevant

Entire process may take upto 1 MONTH time! In case, there is no tax liability then NRI can file form 15CA and 15CB online. These forms can be filed by CA. After filing form 15CA and 15CB, money can be transferred to country of residence else money can be retained in NRO account in India.

Disclaimer: The opinion given in the articles is the individual opinion of the author and it is up to the readers to evaluate their position taking the provision of law and applicable facts of their case and take the decision on the subject matter. Subject to taxability of capital gain rates, surcharge, cess or available of exemption u/s 54, 54F, 54EC etc. and DTAA provision. The author or me cannot be held liable for any of the decisions taken based on the above article. Before taking any decision it is best to hire professional advice.

Last but not the least, in many cases I observed that NRI seller insist buyer to not to deduct TDS. In specific cases, TDS is not deducted due to ignorance at buyers end. In all such scenarios, hefty penalty can be imposed on buyer or on NRI seller. It is always advisable to pay all taxes on time to buy peace of mind which is priceless.

Thanks & Regards
CA. Ashwani Rastogi

Partner, ARJS & Associates

M.Com, FCA, ACS, FAFD

Chartered Accountants 

Address- 2029, Bank St, Near Shreem Jewellers, Block 47, Beadonpura, 

Karol Bagh, New Delhi, Delhi 110005
Mobile Number- +91-9990999281

Office Number: 011-42137042 Website- www.globaltaxation.in
More Details- http://www.globaltaxation.in/nri-tds.html

KYC Verification in Karol Bagh

#DirectKYC #DIR-3-KYC #DPT-3

• eForm DIR-3 KYC is to be filed by an individual who holds DIN and is filing his KYC details for the first time or by the DIN holder who has already filed his KYC once in eform DIR-3 KYC but wants to update his details.
• Web service DIR-3-KYC-WEB is to be used by the DIN holder who has submitted DIR-3 KYC eform in the previous financial year and no update is required in his details.
• The DIN of the director should be an officially approved one
• In case of deactivated DINs, the process to reactivate DINs due to non-filing of DIR-3-KYC will begin after August 31
• The personal mobile number and email address of the director entered in the form will be verified by a One-Time-Password (OTP)
• In case of a foreign national, the passport number is mandatory
• OTPs can be successfully sent to the registered mobile number and email against one form, for a maximum of 10 times in one day and twice in a span of 30 minutes. For further chances, a new form must be downloaded on the same day or the next day
• The contact information, permanent residential address, and PAN stated in the form should match with the proof attached
• The form should be digitally signed by a practicing Chartered Accountant or Company Secretary; and
• The following documents must be uploaded to complete the filing process – proof of permanent address; copy of the Aadhar Card; copy of passport; proof of present address; and other optional attachments, if any.

If you are director/ partner in any Company/ LLP update your KYC, delays in KYC levy late fee.

DIR 3 KYC is newly introduced form by Ministry of Corporate Affairs whereby every Individual who is holding DIN is required to file his /her particulars in Form DIR-3 KYC every year on or before April 30 every year. For the current year, DIR-3 KYC is required to be filed on or before August 31, 2018.

The Companies (Appointment and Qualification of Directors) Fourth Amendment Rules, 2018 came into effect on July 10, 2018. (See here for the official notification.)

Announced by the Ministry of Corporate Affairs (MCA) in early July, the amended rules seek to update the federal government’s database of company directors.

Every director to whom the Director Identification Number (DIN) has been allotted on or before March 31, 2018 should file the e-form DIR-3 KYC on or before August 31, 2018. This is an authentication procedure.

Even a director who is currently disqualified, but was allotted a DIN needs to file this form.
After the last date, the government will deactivate the DIN of those directors who have not yet completed their KYC. Such persons can reactivate their DIN by filing this form and paying a penalty of US$72.91 (Rs 5,000).

In future, every individual who is allotted a DIN in India as on March 31 in a financial year will need to submit the DIR-3 KYC to the federal government on or before August 31 of the immediate next financial year. For example, if the DIN was allotted on March 31, 2019, then the DIR-3 KYC needs to be filed before April 30, 2020.

Key points to remember while filing the form are:

• The rule 16A inserted in the Companies (Acceptance of Deposits) Rules, 2014 requires the filing of onetime return duly certified by the auditor of the company in the prescribed Form DPT-3. This disclosure, also known as Return of Deposits is an exercise wherein the company must ascertain the outstanding amount of any money received or loan which is outstanding as on 31st March 2019, and get it certified by the auditor of the company. The Form DPT-3 is exhaustive and must be filled carefully as the amounts must be disclosed in the correct column/Field in the form.

Along with the Form the Auditors Certificate need to be attached as an attachment, wherein auditor must certify in clear terms the Value of amount outstanding to any person and outstanding amount of loan if any taken by the company. The cut-off date for taking balance is 31st March 2019 and thus the provisions of filing the Return of Deposit is applicable to all companies. One of the prerequisites to filing DPT-3 is the finalization of books account and drafting of financial statement, which is sometimes. We at Global Taxation is capable and ready to work overtime to achieve full compliance of filing the DPT-3. Let's start now, without any further delay.

Thanks & Regards
CA. Ashwani Rastogi

Partner, ARJS & Associates

M.Com, FCA, ACS, FAFD

Chartered Accountants 

Address- 2029, Bank St, Near Shreem Jewellers, Block 47, Beadonpura, 

Karol Bagh, New Delhi, Delhi 110005
Mobile Number- +91-9990999281

Office Number: 011-42137042 Website- www.globaltaxation.in
More Details-http://www.globaltaxation.in/kyc-verification.html

KYC Verification in Gurgaon

#DirectKYC #DIR-3-KYC #DPT-3

• eForm DIR-3 KYC is to be filed by an individual who holds DIN and is filing his KYC details for the first time or by the DIN holder who has already filed his KYC once in eform DIR-3 KYC but wants to update his details.
• Web service DIR-3-KYC-WEB is to be used by the DIN holder who has submitted DIR-3 KYC eform in the previous financial year and no update is required in his details.
• The DIN of the director should be an officially approved one
• In case of deactivated DINs, the process to reactivate DINs due to non-filing of DIR-3-KYC will begin after August 31
• The personal mobile number and email address of the director entered in the form will be verified by a One-Time-Password (OTP)
• In case of a foreign national, the passport number is mandatory
• OTPs can be successfully sent to the registered mobile number and email against one form, for a maximum of 10 times in one day and twice in a span of 30 minutes. For further chances, a new form must be downloaded on the same day or the next day
• The contact information, permanent residential address, and PAN stated in the form should match with the proof attached
• The form should be digitally signed by a practicing Chartered Accountant or Company Secretary; and
• The following documents must be uploaded to complete the filing process – proof of permanent address; copy of the Aadhar Card; copy of passport; proof of present address; and other optional attachments, if any.

If you are director/ partner in any Company/ LLP update your KYC, delays in KYC levy late fee.

DIR 3 KYC is newly introduced form by Ministry of Corporate Affairs whereby every Individual who is holding DIN is required to file his /her particulars in Form DIR-3 KYC every year on or before April 30 every year. For the current year, DIR-3 KYC is required to be filed on or before August 31, 2018.

The Companies (Appointment and Qualification of Directors) Fourth Amendment Rules, 2018 came into effect on July 10, 2018. (See here for the official notification.)

Announced by the Ministry of Corporate Affairs (MCA) in early July, the amended rules seek to update the federal government’s database of company directors.

Every director to whom the Director Identification Number (DIN) has been allotted on or before March 31, 2018 should file the e-form DIR-3 KYC on or before August 31, 2018. This is an authentication procedure.

Even a director who is currently disqualified, but was allotted a DIN needs to file this form.
After the last date, the government will deactivate the DIN of those directors who have not yet completed their KYC. Such persons can reactivate their DIN by filing this form and paying a penalty of US$72.91 (Rs 5,000).

In future, every individual who is allotted a DIN in India as on March 31 in a financial year will need to submit the DIR-3 KYC to the federal government on or before August 31 of the immediate next financial year. For example, if the DIN was allotted on March 31, 2019, then the DIR-3 KYC needs to be filed before April 30, 2020.

Key points to remember while filing the form are:

• The rule 16A inserted in the Companies (Acceptance of Deposits) Rules, 2014 requires the filing of onetime return duly certified by the auditor of the company in the prescribed Form DPT-3. This disclosure, also known as Return of Deposits is an exercise wherein the company must ascertain the outstanding amount of any money received or loan which is outstanding as on 31st March 2019, and get it certified by the auditor of the company. The Form DPT-3 is exhaustive and must be filled carefully as the amounts must be disclosed in the correct column/Field in the form.

Along with the Form the Auditors Certificate need to be attached as an attachment, wherein auditor must certify in clear terms the Value of amount outstanding to any person and outstanding amount of loan if any taken by the company. The cut-off date for taking balance is 31st March 2019 and thus the provisions of filing the Return of Deposit is applicable to all companies. One of the prerequisites to filing DPT-3 is the finalization of books account and drafting of financial statement, which is sometimes. We at Global Taxation is capable and ready to work overtime to achieve full compliance of filing the DPT-3. Let's start now, without any further delay.

Thanks & Regards
CA. Ashwani Rastogi

Partner, ARJS & Associates

M.Com, FCA, ACS, FAFD

Chartered Accountants 

Address- 2029, Bank St, Near Shreem Jewellers, Block 47, Beadonpura, 

Karol Bagh, New Delhi, Delhi 110005
Mobile Number- +91-9990999281

Office Number: 011-42137042 Website- www.globaltaxation.in
More Details-http://www.globaltaxation.in/kyc-verification.html

Cross Border and International Taxation in Karol Bagh

#Withholdingtax #Permanentestablishment #NopeinIndia #CACertificate #Equitysharevaluation #ForeigndirectorKYC

CROSS BORDER AND INTERNATIONAL TAXATION

International Tax Advisory

With liberalization playing a key role in Indian policies, it has led to a multitude of multinational companies entering India. With the encouragement of foreign direct investment inflows into India there has been a liberalization of the Indian taxation scheme, the Government of India has come forward with ways to ensure that non-residents abroad make investments in India which is imperative for the long term growth of the economy. Special tax provisions are enacted in the statue to encourage the foreign investment through special tax concession and incentives. This interplay of domestic and international taxes incident on companies and individuals often results in complex situations. Converging on an optimum solution requires taking a holistic view on the “total” tax impact rather than a country specific examination.
Our International Tax specialists offer services that successfully align all the different areas of taxation into a benefit-driven strategy that is reflected favourably in the various financial parameters. Our people and global resources are able to help clients develop and execute business strategies quickly and effectively, with strong accountability and governance. Our practitioners blend local country technical knowledge with appropriate regional and global insight on the latest developments in tax policy, legislation and administration.

Transfer Pricing
In the wake of globalization, most MNC’s today generate large portions of their taxable income, from other than their home jurisdictions. Thus, making transfer pricing an increasingly important issue among tax directors, boards of directors and fiscal authorities worldwide. The explosive growth in world trade in recent years, and the resulting increase in cross – border transactions between related parties, has catapulted transfer pricing to the forefront of important international tax issues. MNC’s of all sizes are finding their transfer pricing practices under increased scrutiny by tax authorities. Fiscal authorities are policing multinational’s transfer pricing policies aggressively in an attempt to protect their tax base from erosion.
We help clients ensure that all compliances in India are met and issues under litigation handled effectively.

Our ranges of services include:
Advice on cross border transactions
Advice on double tax treaties and foreign tax systems/implications
Tax efficient structuring of cross border transactions
Advisory services in relation to the improvement/effectiveness of the cross border ‘Supply Chain’ process.
Preparation of Transferpricing Study Reports and other prescribed TP documentation

Thanks & Regards
CA. Ashwani Rastogi

Partner, ARJS & Associates

M.Com, FCA, ACS, FAFD

Chartered Accountants 

Address- 2029, Bank St, Near Shreem Jewellers, Block 47, Beadonpura, 

Karol Bagh, New Delhi, Delhi 110005
Mobile Number- +91-9990999281

Office Number: 011-42137042 Website- www.globaltaxation.in
More Details-http://www.globaltaxation.in/cross-border-and-international-taxation.html

Cross Border and International Taxation in Gurgaon

#Withholdingtax #Permanentestablishment #NopeinIndia #CACertificate #Equitysharevaluation #ForeigndirectorKYC

CROSS BORDER AND INTERNATIONAL TAXATION

International Tax Advisory

With liberalization playing a key role in Indian policies, it has led to a multitude of multinational companies entering India. With the encouragement of foreign direct investment inflows into India there has been a liberalization of the Indian taxation scheme, the Government of India has come forward with ways to ensure that non-residents abroad make investments in India which is imperative for the long term growth of the economy. Special tax provisions are enacted in the statue to encourage the foreign investment through special tax concession and incentives. This interplay of domestic and international taxes incident on companies and individuals often results in complex situations. Converging on an optimum solution requires taking a holistic view on the “total” tax impact rather than a country specific examination.
Our International Tax specialists offer services that successfully align all the different areas of taxation into a benefit-driven strategy that is reflected favourably in the various financial parameters. Our people and global resources are able to help clients develop and execute business strategies quickly and effectively, with strong accountability and governance. Our practitioners blend local country technical knowledge with appropriate regional and global insight on the latest developments in tax policy, legislation and administration.

Transfer Pricing
In the wake of globalization, most MNC’s today generate large portions of their taxable income, from other than their home jurisdictions. Thus, making transfer pricing an increasingly important issue among tax directors, boards of directors and fiscal authorities worldwide. The explosive growth in world trade in recent years, and the resulting increase in cross – border transactions between related parties, has catapulted transfer pricing to the forefront of important international tax issues. MNC’s of all sizes are finding their transfer pricing practices under increased scrutiny by tax authorities. Fiscal authorities are policing multinational’s transfer pricing policies aggressively in an attempt to protect their tax base from erosion.
We help clients ensure that all compliances in India are met and issues under litigation handled effectively.

Our ranges of services include:
Advice on cross border transactions
Advice on double tax treaties and foreign tax systems/implications
Tax efficient structuring of cross border transactions
Advisory services in relation to the improvement/effectiveness of the cross border ‘Supply Chain’ process.
Preparation of Transferpricing Study Reports and other prescribed TP documentation

Thanks & Regards
CA. Ashwani Rastogi

Partner, ARJS & Associates

M.Com, FCA, ACS, FAFD

Chartered Accountants 

Address- 2029, Bank St, Near Shreem Jewellers, Block 47, Beadonpura, 

Karol Bagh, New Delhi, Delhi 110005
Mobile Number- +91-9990999281

Office Number: 011-42137042 Website- www.globaltaxation.in
More Details-http://www.globaltaxation.in/cross-border-and-international-taxation.html

Outbound Secondment in Karol Bagh

NON-RESIDENT TAXATION AND FEMA COMPLIANCES

#Outboundsecondment #Inboundsecondment #Exptriatetaxation #NRIincometaxreturn #Foreigntaxcredit #Nonresident

We can help Non Resident Indians (NRI) in various ways in respect of their taxation concern’s and investment in India specifically apart from other services. We understand that a non-resident Indian is sitting abroad but still he/ she has lots of concerns for India like income tax for income generated in India, purchase and sale of property in India, opening of office in India, investment in India, Remittances of funds etc. Since it is not very easy and possible for them to visit India very often for all these purposes, we help them acting on their behalf and provide all required services in a professional manner. We act as authorized representative for Non Resident Indians (NRI). We understand their requirements, discuss with them in detail on Phone, E-Mail, Skype, etc. and perform the required activity on their behalf in a safe and professional manner which saves their time and cost.

We are available for any kind of Tax, FEMA / RBI Related Services and legal services for Non Resident Indians. NRI need not visit India for all the purposes stated above and we shall perform all activities on their behalf so that they can save their precious time and cost on one hand and to get top class professional services on the other.


Some of the services that we offer are:
Taxation: Filing of Income Tax Returns and helping NRI's to comply with all statutory compliances. Coordinating with the Tax Practitioner (associated with us or your own) in your home country with respect to Double Taxation-Returns, FATCA, Double Tax Credits, etc.


Remittances: Remittances / Repatriation of Funds to your Home Country from sale / disposal of your Financial Assets and Property in India after payment of due taxes in India and coordination with your Bankers to facilitate all documentation as required by RBI.


Advisory: Advising on Taxation aspects of your Income accrued and received in India including providing some useful Tax Planning ideas. Any specific advice required in relation to FEMA/RBI matters.


Inheritance, Will's & HUF: Professional support in preparing will, nominations, HUF / HUF Formation Deed so that wishes of NRI's parents and close relatives are fulfilled and executed as per their instructions.


Associated Services: NRIs who wish to ascertain Title of their Property, Stamp Duty (Circle Rate) valuation, likely Tax liability so that they can decide sale / disposal of Assets (Financial Assets and Property) we will assist in coordinating with local experts (Property Lawyer, Property Broker of local area) of the respective field.


Mandate: NRI`s may require specific Services and execution or Implementation of these Instructions in a manner that fulfils the mandate. These would be carried out at a local level using services of qualified professionals in a legitimate way. Time and cost would depend upon the complexity of mandate and associated cost.

Thanks & Regards
CA. Ashwani Rastogi

Partner, ARJS & Associates

M.Com, FCA, ACS, FAFD

Chartered Accountants 

Address- 2029, Bank St, Near Shreem Jewellers, Block 47, Beadonpura, 

Karol Bagh, New Delhi, Delhi 110005
Mobile Number- +91-9990999281

Office Number: 011-42137042 Website- www.globaltaxation.in
More Details-http://www.globaltaxation.in/non-resident-taxation-and-fema-compliances.html

Outbound Secondment in Gurgaon

NON-RESIDENT TAXATION AND FEMA COMPLIANCES

#Outboundsecondment #Inboundsecondment #Expatriatetaxation #NRIincometaxreturn #Foreigntaxcredit #Nonresident

We can help Non Resident Indians (NRI) in various ways in respect of their taxation concern’s and investment in India specifically apart from other services. We understand that a non-resident Indian is sitting abroad but still he/ she has lots of concerns for India like income tax for income generated in India, purchase and sale of property in India, opening of office in India, investment in India, Remittances of funds etc. Since it is not very easy and possible for them to visit India very often for all these purposes, we help them acting on their behalf and provide all required services in a professional manner. We act as authorized representative for Non Resident Indians (NRI). We understand their requirements, discuss with them in detail on Phone, E-Mail, Skype, etc. and perform the required activity on their behalf in a safe and professional manner which saves their time and cost.

We are available for any kind of Tax, FEMA / RBI Related Services and legal services for Non Resident Indians. NRI need not visit India for all the purposes stated above and we shall perform all activities on their behalf so that they can save their precious time and cost on one hand and to get top class professional services on the other.


Some of the services that we offer are:
Taxation: Filing of Income Tax Returns and helping NRI's to comply with all statutory compliances. Coordinating with the Tax Practitioner (associated with us or your own) in your home country with respect to Double Taxation-Returns, FATCA, Double Tax Credits, etc.


Remittances: Remittances / Repatriation of Funds to your Home Country from sale / disposal of your Financial Assets and Property in India after payment of due taxes in India and coordination with your Bankers to facilitate all documentation as required by RBI.


Advisory: Advising on Taxation aspects of your Income accrued and received in India including providing some useful Tax Planning ideas. Any specific advice required in relation to FEMA/RBI matters.


Inheritance, Will's & HUF: Professional support in preparing will, nominations, HUF / HUF Formation Deed so that wishes of NRI's parents and close relatives are fulfilled and executed as per their instructions.


Associated Services: NRIs who wish to ascertain Title of their Property, Stamp Duty (Circle Rate) valuation, likely Tax liability so that they can decide sale / disposal of Assets (Financial Assets and Property) we will assist in coordinating with local experts (Property Lawyer, Property Broker of local area) of the respective field.


Mandate: NRI`s may require specific Services and execution or Implementation of these Instructions in a manner that fulfils the mandate. These would be carried out at a local level using services of qualified professionals in a legitimate way. Time and cost would depend upon the complexity of mandate and associated cost.

Thanks & Regards
CA. Ashwani Rastogi

Partner, ARJS & Associates

M.Com, FCA, ACS, FAFD

Chartered Accountants 

Address- 2029, Bank St, Near Shreem Jewellers, Block 47, Beadonpura, 

Karol Bagh, New Delhi, Delhi 110005
Mobile Number- +91-9990999281

Office Number: 011-42137042 Website- www.globaltaxation.in
More Details-http://www.globaltaxation.in/non-resident-taxation-and-fema-compliances.html