Returning NRI Income Tax Rules

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Returning NRI Income Tax Rules

As far as the impact of globalization on India goes, it has mostly rested on emigration, but sometimes the NRIs have returned to India. Meanwhile, Non-resident Indians or NRIs can often find themselves in a sort of limbo when it comes to income tax compliance - sometimes finding themselves paying taxes in both their new and old country at the same time. Some explanation of the returning NRI income tax rules is desirable in such cases.

Key Returning NRI Income Tax Rules

The following are some key elements of returning NRI income tax rules that you should consider while determining your taxation liability in the country:

    • First and foremost, a person has to determine their residential status under the returning NRI tax laws. The residential status is determined by several factors, and one of the most important of them is the destination country of NRIs.
    • If this destination country has signed a bilateral treaty for the avoidance of double taxes in India, then the residential status will be determined accordingly.
    • In case there is no such bilateral treaty, then NRIs are required to pay the income tax under NRI returning tax rules. That is even though they may also have to pay income tax in the destination country - thus causing double taxation.
    • The NRI returning tax rules also provide various ways in which the NRIs can effectively and legally reduce their income tax burden.

Sachin Gujar and Associates provides the following returning NRIs taxation:

    • Determination of residential status
      Our experts can help you determine your residential status under the returning NRI tax laws and the bilateral treaties.
    • Ensuring compliance with NRI returning tax rules
      We shall ensure the documentary and legal reliance of returning NRIs taxation, taking care of all the legal formalities for you, including filing the tax return, getting the PAN or Permanent Account Number, and checking the certification under FEMA or Foreign Exchange Management Act of India.
    • Advise for income taxation
      One of our most demanded direct taxation services in Pune is investment and financial advice we offer to our clients (particularly NRIs) to help them effectively reduce their income tax burden.
    • Cost-effective
      We offer our services in relation to returning NRIs taxation at the best prices in the market and offer financial advice that can help you in significant amounts by way of reduced income tax liability. That makes Sachin Gujar the most cost-effective NRI taxation advisory and consultancy enterprise.

    A combination of all the above advantages makes Sachin Gujar and Associates the best firsts for getting legal and financial advice for income tax returns. Further, you can also take our services for customs, indirect taxes, etc. - effectively making us the single-stop solution for all your income tax worries. So, if you are an NRI interested in filing an income tax return but are confused or afraid that you are paying too much, don’t hesitate to get in touch with us.

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Sachin Gujar & Associates,
Chartered Accountants
47/22, Erandwana, Law College Road,
Ekta Apts, 3rd Floor, Above Nirmitee Furniture,
Pune - 411004

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