• No 383/31, Ground Floor, Kempamma Layout Hulimavu Main Road, Bannerghatta Main Rd, Hulimavu, Bengaluru, Karnataka 560076

NRI Services

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NRI Tax Filing:

  • Importance: NRI tax filing is crucial for Non-Resident Indians to comply with Indian tax laws and report income earned in India.
  • Challenges: NRIs face complexities in tax filing due to different income sources, double taxation agreements, and foreign asset reporting requirements.
  • Expert Assistance: NRI tax filing services provide specialized support in navigating tax regulations, claiming deductions, and ensuring compliance with Indian tax laws.

FORM 15CA/15CB:

  • Purpose: Form 15CA and 15CB are required for remitting funds abroad and certifying tax compliance for such remittances.
  • Form 15CA: Declaration of remitter for making payments to non-residents.
  • Form 15CB: Certificate from a Chartered Accountant verifying tax compliance and applicable Double Taxation Avoidance Agreement (DTAA) provisions.

NRI Advisory Services:

  • Comprehensive Guidance: NRI advisory services offer expert advice on financial planning, investment strategies, tax implications, and wealth management for NRIs.
  • Investment Planning: Tailored investment advice considering NRI status, risk tolerance, and financial goals.
  • Tax Optimization: Strategies to minimize tax liabilities, utilize tax-saving options, and ensure compliance with Indian tax laws.

Consultancy Services:

  • Specialized Consultancy: NRI consultancy services provide personalized solutions for legal, financial, and property matters specific to Non-Resident Indians.
  • Property Management: Assistance in property transactions, rental management, legal documentation, and property investment guidance.
  • Legal Advisory: Expert legal advice on land and property matters, inheritance laws, and compliance with Indian regulations for NRIs.

Navigating NRI services in India involves specialized support for tax filing, compliance with remittance regulations, expert advisory on financial matters, and tailored consultancy services for legal and property-related issues. From tax filing to advisory services and consultancy, NRI services aim to assist Non-Resident Indians in managing their financial affairs, investments, and legal matters effectively in India.

Lower Tax Certificate on Sale of Properties by NRI

As per Section 195 of the Income Tax Act, payment to a Non resident, be it sale consideration towards the sale of property, Rent, Interest, Professional fees, commission, royalty, etc., is subject to Tax Deduction at Source (TDS).

How much TDS is to be done in case of sale of property or on Rental income?

Suppose, an NRI sells a flat in Bangalore for Rs.90 lakhs, the buyer of the property has to deduct TDS at 22.88% (FY 2018-19).

In order to reduce the TDS burden, the seller of the property can apply to the department to issue a certificate for deduction of lower rates or no deduction of tax.

We at Swasthik and Co have gained good exposure in dealing with NRI taxation, TDS and Lower tax certificate services. Those who want more information or services may kindly write to us.