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Get the frequent due date of compliance and advisory.
As Per Documents List sent by us.
At per TAT of respective services. (Time may vary as per services)
Best Team of CA/CS to take care all tax compliance.
When it comes to Tax compliance, One of the biggest myth we have seen with our NRI friends they assume as they are abroad they don’t carry any obligation for tax Compliance. Which is far from true, here the point to ponder is the government has granted you exemption from payment of tax, not the exemption from filing the return. Following are the few situations when you need to file an IT Return without fail:–
Further, you need to follow FEMA Rules, Wealth tax Repatriation norms when undertaking some specified transactions.
Failing to these compliances can attract unnecessary compliance, which may become difficult to manage especially when you are abroad.
We at AKT Associates has created a dedicated desk for NRI which takes care of your compliance and Investment related requirements. With Expertise of taxation and more than 200 onboard NRI client, we can guide you through all these legal compliances.
1. NRI Tax Compliance
2. NRI Investment Consulting
3. Legal Consulting
How to define a residential status for NRI?
*If an Indian citizen is spending at least 182 days out of India.
Or
*The person is in India for 2 months in the previous year and has lived in India for entire one year in last four year
His residential status is NRI
For PIO (person of Indian origin) only 1st condition is applicable.
What is the last date for return filling for NRI?
31st July
Does NRI required to pay advance tax?
If your tax liability increase from Rs10 K in any financial year, you need to fill advance tax, failing to which you have to pay interest on tax liability.
What are the constituents of NRI income tax?
Income from salary – if you receive your salary in India.NRI getting income in Indian bank account .rendering your services in India
Income from House property- Income from A property based in India. In case of a home loan, an NRI can claim for standard deduction. Additionally, he can claim a deduction for principal repayment.
Rental payment to NRI- A tenant who pays rent to NRI owner must deduct 30 % TDS. For example, someone pays a rent of 100000 to his NRI landlord so he needs to pay only Rs 70000 and rest 30000 to be deducted as TDS to pay to Income tax department on landlord basis. the tenant has to obtain form 15CA and submit it online to income tax department.
Before form 15 CA he needs to obtain form 15 CB, In some cases a CA certificate in form of form CB is required.
Income from other sources-FD, saving account held in India
Income from business and profession – Any business or profession in India controlled by NRI.
Income from capital gains – Sale of property long-term capital gain, shares securities.
We are handling more than 1500+ successful clients and providing them with services which covers Legal, Technical, Taxation and other business compliance part. That all says a lot on our ways of working and our expertise in the area.
At AKT associates we have been our client’s obvious choice since more than 20 years. For serving you with the best results we use our experience of decades which has exposed us with deep understand.
With a strong team which comprises of experts with qualification like CA, CS, MBA & LLB and they will all available with the wholesome result, with dedicated customer service team and support staff. We are always there to execute your work efficiently.
We touch the top position not just because we are the best in what we do but also because we know the value of your time and money. We know the value of your time so all the work by AKT Associates is performed on time and at around 70% less cost in comparison to all the other leading firms of the market that too without compromising on the quality aspect.
The services of the firm are performed and delivered by using the cutting edge technology which makes the AKT Associates always available & deliver services right in your email. So it doesn’t matter where you are because we are always at your finger tips.