NRIs like resident Indian tax payers have to compute their Income Tax liability for a particular financial year and file their income tax return after paying their taxes
FY 2021-22 has been a very happening year for EzyBiz India Consulting LLP as far as NRI tax return filing is concerned. It has achieved a figure of more than 500 income tax return filing of NRI during the said period.
NRIs like resident Indian tax payers have to compute their Income Tax liability for a particular financial year and file their income tax return after paying their taxes. However, unlike Resident Indians whose global income becomes taxable in India, in case of Non Residents, only income which has accrued or arise of deemed to accrue or arise in India, is taxable. Therefore, the income which is earned outside India is not taxable in India.
There are more than 30 million NRIs all across the globe and every year billions of dollars are being remitted by NRIs in the form of foreign remittances in India. Last year, total remittances from abroad were more than USD 1 billion which is a remarkable achievement.
EzyBiz India provides host of services relating to NRI Tax Return filing in India including:
- Identification of residential status of NRI like Resident, Non Resident, Not ordinary Resident and Deemed Resident.
- Computation of Income under 5 heads of income and computation of final tax payable/receivable.
- Preparation and filing of income tax return of NRI.
- Analysis of provisions of Double Taxation Avoidance Agreement (DTAA) and providing treaty benefits.
- Providing credit of taxes already paid in foreign country from tax payable in India as per the provisions of the DTAA.
- Computation of capital gain tax liability in case of sale of immovable property or shares or mutual funds
- Filing of form 26QB in case of purchase of property
- Assistance in preparation and filing of online reply at the time of scrutiny assessment by the department.
- Guidance relating to maintenance of proper documentation relating to preparation and filing of NRI Tax return
- It also assists in issuance of Form 15CA and 15CB at the time of remittance of money outside India.
- Investment advisory and financial planning & Wealth management
EzyBiz India has more than 20 years of experience in the areas of International tax especially provisions relating to NRI Taxation. It has an expert team of Chartered Accountants, Company secretary, Lawyers and Tax consultants.
Besides providing NRI Tax return service, they also provide services relating to foreign company registration in India, business setup in India, Income Tax assessment and litigation, Tax &Regulatory, Transaction Advisory, Accounting and payroll, and funding.
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