NRI Tax Service

Taxation of NRI/PIO, NRI Overview of Income, NRI Income Tax Return (ITR), Frequently Earned Income By NRIs/PIOs…

NRI Tax Service

Taxation of NRI/PIO, NRI Overview of Income, NRI Income Tax Return (ITR), Frequently Earned Income By NRIs/PIOs…

NRI Tax Service

Welcome to Our Website

NRITAXSERVICE.IN, a firm of professionals, set up with its Head Office in New Delhi, India, and associate offices across India. We also have our associates across the world in various countries. We assist the non-residents in their financial affairs in India as well abroad.

At NRI Tax Service, we provide advisory and compliance services encompassing the entire gamut of Taxation (Income Tax, Wealth Tax, DTAA, Custom etc), Foreign Exchange Law (RBI/FEMA, FCRA, Companies Act etc).

Additionally, we also provide a number of support services to our clients e.g. bank matters, property matters, investment matters, repatriation services, starting a business, sale-purchase of immovable property, family office services etc.

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What we offer?

Taxation of NRI/PIO, NRI Overview of Income, NRI ITR, NRIs/PIOs…

PAN is a ten digit unique alphanumeric combination…

NRIs/PIOs are allowed to invest in India in following two ways…

NRIs/PIOs, Loans/Borrowings, Investments, Immovable Property, Bank Accounts

Components of ITR, Process of Filing ITR, Due Date, Revised Return…

NRIs/PIOs are allowed to acquire or hold immovable property…

GST stands for Goods and Services Tax. GST law is an indirect tax which has …

NRIs acquire immovable property in India. This acquisition is either by way…

Property Sale by NRI, Foreign Citizens – TDS U/S 195 – lower TDS…

News and Articles

Industry news and articles

Recently, in a decision, the Mumbai ITAT (an Appellate Authority for Income Tax Litigation Matters in India) has held that just receipt of Salary Income by an employee (working in a Ship plying on Innternational routes, Run by Singapore based Shipping Company), in NRE Bank Account in India, will not trigger a tax incidence in India.

The government recently released draft guidelines for its ambitious gold monetization scheme that aims to cut down gold imports in the country.

The guidelines have been notified nearly three months after the scheme was announced by Finance Minister Arun Jaitley in the Union Budget.

In the last week of May 2020, CBDT has notified new Income Tax Return Forms for AY 2020-21-(i.e. FY 2019-20). Some of the salient features/changes of these forms are:

In India, Taxation on Gift was regulated by the Gift Tax Act 1958. As per the Gift Tax Act 1958, the donor was required to pay Gift Tax on all gifts in excess of a specified amount. However, with effect from October 1, 1998 (By Honourable Finance Minister Shri Yashwant Sinha), Gift Tax Act got demolished and all the gifts made on or after this date were free from tax.

There is a common practice in India to purchase/transfer the assets in the wife name e.g. purchasing of immovable property in the wife name, purchasing of shares/jewellery in the wife name etc.

There can be various reasons for the same e.g. prescribed rate of stamp duty is lesser in case of females etc.

Though there can be other justified reasons to buy the assets in the wife name, however, another ulterior motive also remains i.e. Tax Avoidance.

  • Foreign Exchange Management Act 1999 (FEMA) restrict the drawal of forex except to the extent allowed by its Regulations.
  • Under LRS, Indian Residents are allowed to remit prescribed amount (Per FY) of forex outside India to anyone for all permissible capital account transactions, without any prior approval of RBI. They just need to contact an Authorised Person/Dealer for this (i.e. Full Fledged Money Changer, Banks).

Frequently Asked Questions

NRI tax services related questions and answers