Comprehensive Services to Non-Resident Indians (NRIs)

Non-Resident Indians (NRIs) often face challenges when it comes to managing their financial and regulatory affairs in India. N C Agrawal & Associates, a Chartered Accountant (CA) Firm in Delhi, serves as a trusted advisor, helping NRIs navigate the complexities of Indian tax laws, compliance requirements, and investment opportunities. Below is an overview of the various services we provide to NRIs:

1. Income Tax Filing for NRIs

Filing income tax returns in India is mandatory for NRIs who earn income in India, such as from:
– Rental income from properties
– Capital gains from the sale of assets
– Interest income from bank deposits
– Business or professional income

As a CA Firm, We can ensure accurate and timely filing of income tax returns, leveraging applicable deductions and exemptions to minimize tax liabilities while ensuring compliance with the Income Tax Act.

2. TDS Compliance on Property Transactions

When an NRI sells or purchases property in India, Tax Deducted at Source (TDS) plays a crucial role:

-TDS on Purchase of Property: Buyers are required to deduct TDS at 20% or more when purchasing property from an NRI. We can assist in calculating the correct TDS amount, remitting it to the government, and issuing Form 16A to the NRI seller. You can read more about TDS Deduction in case of purchase of property from NRI by clicking here

– TDS on Sale of Property: NRIs selling property in India often face high TDS deductions. We can help with compliance and ensure timely filing of related forms. including getting the Lower TDS Deduction certificate from the income tax department to avoid withhled the higher TDS by the income tax

3. TDS Exemption or Reduction Certificate

To avoid excessive TDS deductions on property sales or other income, NRIs can apply for a lower deduction or exemption certificate from the Income Tax Department under Section 197. A CA firm can:
– Assist in preparing and filing the application for the certificate
– Represent the NRI before tax authorities to expedite approval
– Ensure compliance with all procedural requirements

4. Company Registration and Business Setup

For NRIs looking to establish a business in India, as a CA firm, we provides end-to-end assistance, including:
– Choosing the appropriate business structure (Private Limited Company, LLP, Proprietorship, etc.)
– Registering the company with the Ministry of Corporate Affairs (MCA)
– Obtaining necessary registrations like PAN, TAN, GST, and other licenses
– Advising on FEMA compliance for foreign investments

5. Assistance with Form 15CA and 15CB

When NRIs repatriate funds or make foreign remittances, filing Form 15CA and obtaining Form 15CB from a Chartered Accountant is often required. These forms certify that taxes on the remittance have been duly paid or exempted. As a CA firm, we can:
– Prepare and file Form 15CA online
– Issue Form 15CB after thorough verification of the tax liability
– Ensure compliance with FEMA and RBI regulations

6.Tax Planning and Advisory

As a CA firm,we provides customized tax planning services to NRIs, focusing on:
– Structuring investments for optimal tax benefits
– Utilizing benefits under the Double Taxation Avoidance Agreement (DTAA)
– Minimizing tax liabilities on Indian and global income

7. Real Estate Advisory

NRIs often invest in real estate in India. A CA firm can assist with:
– Property purchase and sale transactions
– Calculating capital gains and related tax implications
– Repatriation of sale proceeds
– Compliance with RBI guidelines and FEMA regulations

8. Financial and Non-Financial Advisory

– Investment Management: Guidance on investing in mutual funds, fixed deposits, or stocks in India.
– Repatriation of Funds:** Assistance with transferring funds from India to the NRI’s country of residence.
– Loan Advisory: Helping NRIs obtain home loans, personal loans, or business loans in India.
– Inheritance and Succession Planning:** Structuring wills and assisting in the smooth transfer of assets to heirs.

9. Compliance with FEMA and RBI Regulations

NRIs often deal with cross-border transactions that fall under FEMA regulations. A CA firm can:
– Ensure compliance with FEMA for investments and remittances
– Assist in obtaining necessary approvals from the RBI
– Guide on maintaining NRO, NRE, and FCNR accounts

10. Audit and Assurance Services

For NRIs with businesses or significant investments in India, audit services include:
– Statutory audits
– Internal audits
– Tax audits

11. Representation Before Tax Authorities

In case of tax disputes or notices, we can represent NRIs before:
– Income Tax Officers
– Appellate Tribunals
– Other regulatory bodies

N C Agrawal & Associates, we specialize in providing a comprehensive suite of services tailored for Non-Resident Indians (NRIs) and foreign nationals. Our expertise ensures seamless management of your financial and regulatory requirements in India.

Our Services Include:

• Permanent Account Number (PAN) and Aadhaar Assistance: Facilitating the acquisition of PAN and Aadhaar numbers, essential for financial transactions and compliance in India.

• Strategic Tax Planning: Offering personalized tax strategies to optimize your financial benefits while ensuring adherence to Indian tax laws.

• Advance Rulings Procurement: Assisting in obtaining advance rulings on complex tax matters to provide clarity and avoid future disputes.

• FEMA/RBI Advisory: Providing expert guidance on Foreign Exchange Management Act (FEMA) regulations and Reserve Bank of India (RBI) compliances, ensuring your investments and transactions align with Indian laws.

• Income Tax Return Filing: Managing the preparation and submission of your income tax returns, ensuring accuracy and timely compliance.

• Investment Consultation: Advising on lucrative investment opportunities in India, tailored to your financial goals and risk appetite.

• Repatriation Certification: Issuing necessary certificates for repatriating income or assets from India, facilitating smooth fund transfers abroad.

• RBI Application Assistance: Handling applications to the RBI for various approvals, including the sale and purchase of residential and commercial properties.

• Comprehensive Tax Advisory: Offering insights and solutions on diverse tax-related issues, ensuring you remain compliant and informed.

Why Choose N C Agrawal & Associates?

With a presence in major Indian cities, including Delhi, Noida, and Bangalore, our firm is strategically positioned to serve clients across the nation. Our team of seasoned professionals is committed to delivering personalized solutions, ensuring your financial interests are protected and optimized.

Frequently Asked Questions (FAQs):

1. Why do NRIs need a PAN in India?

   • A Permanent Account Number (PAN) is mandatory for NRIs to conduct financial transactions, such as property sales or investments, and for filing income tax returns in India.

2. What is the significance of obtaining advance rulings?

   • Advance rulings provide clarity on tax liabilities for specific transactions, helping NRIs make informed decisions and avoid potential legal disputes.

3. How does FEMA impact NRI investments?

   • The Foreign Exchange Management Act (FEMA) regulates foreign exchange transactions in India. Compliance ensures that NRI investments and repatriations are conducted legally and efficiently.

4. Can NRIs repatriate funds from property sales in India?

   • Yes, NRIs can repatriate proceeds from property sales, subject to certain conditions and documentation as prescribed by the RBI.

5. Why choose N C Agrawal & Associates for NRI services?

   • Our extensive experience, strategic presence in Delhi, Noida, and Bangalore, and commitment to personalized service make us a preferred choice for NRIs seeking comprehensive financial and regulatory assistance in India.

For expert guidance and efficient management of your financial affairs in India, trust N C Agrawal & Associates—your reliable CA firm in Delhi, CA firm in Noida, and CA firm in Bangalore.