For a Non-Resident Indian (NRI), for many, tax management in India is full of complexities and dilemmas. Since the taxation laws of the country work as per one's residential status rather than nationality, knowledge of these nuances becomes important to maintain compliance and save maximum taxes.
My Startup Solution provides NRI taxation service. This gives the NRIs/Expatriates complete understanding about each and every step of the India taxation process. Whether you are staying abroad or just returned back, our consultants in Lucknow help to clarify things that go on to appear confusing in taxation in India.
With globalization increasing the percentage of Indians who go abroad to work and settle, NRIs have faced tax compliance issues. Our professional knowledge of Indian tax laws combined with individualized service will ensure that your tax matters are handled efficiently and effectively.
Personal tax planning and filing tailored to an individual's personal circumstances and his or her residential status. How we may assist:
There needs to be a realistic determination of the residential status under both the Income Tax Act, 1961 and Double Taxation Avoidance Agreement that then goes ahead to decide tax liabilities.
Advisory on tax-saving planning of income in India, which include salaries, income from property, and capital gains-income so that you would be able to reduce your tax liability through lawful exemptions and deductions.
Full support on preparation and filing of tax returns in India, ensuring all statutory and regulatory requirements will be met, thereby maximizing utilized deductions under sections like 80C, among others.
Help me claim relief under DTAA so that I am not taxed in India or my country of residence such that the tax burden gets distributed more equitably.
Expert view of saving tax in India: ELSS, Life insurance policies, Repayment of the principal amount of the housing loan-all under the garb of Indian tax laws.
We will make sure you get the right certification and get done all the paperwork in FEMA, so that bringing the amount back does not turn into any headache for your country.
Repatriation of funds from India: Advisory Facilitate ease in form filling and liaison with your authorized dealer (AD) banker for smooth fund transfer.
Guidance for Plan Sponsor Employers with ESOPs This notice provides guidance to plan sponsor employers regarding the taxation of Employee Stock Ownership Plans and other employment-related income.
It would thus be during an income-tax audit or scrutiny that we appear before the Indian tax authorities on your behalf and ensure all documentation is properly produced for protection of your interests.
Help in the procurement of your Permanent Account Number (PAN), an essential prerequisite for filing taxes and making any kind of financial transaction in India.
NRIs would be liable to many deductions almost alike that of a resident Indian. At My Startup Solution, we help you make the best use of the following deducible under Section 80C:.
Deduction of Life Insurance Premium Payments: Premium paid on policies covering yourself, your spouse, or your children.
ML III-Housing loan: principal repayment benefit accruing on repayment of principal amount against home loans advanced for purchasing properties in India.
Children's School Fee: Any or all courses leading to educational qualifications at any educational institution in India up to two children.
Investment under ELSS: Investing in tax-saving equity-linked saving schemes or ELSS available under mutual funds.
Lucknow Local Expertise: Our people understand the local regulatory environment in and around Lucknow and can hence assure correct and region-specific advice.
We would treat each of the NRIs as different, and therefore there would be fully customized solutions addressing each one's tax challenge.
Seamless Communication: We react promptly and communicate fluently, thereby making tax compliance an easy exercise for our customers.
NRI Tax Help Lucknow: Seek the right advice If you’re an NRI or an expatriate seeking expert tax advice and reliable services in India, look no further.
My Startup Solution in Lucknow is your trusted partner for handling NRI tax matters efficiently. Call us Today Professional services, covering NRI taxation requirements can be mailed to info@mystartupsolution.in or you can call us at +917081220800. Leave all your tax affairs to us while you go out to serve the world.
A person falls within the NRI definition if he or she spends less than 182 days in India in a financial year, as defined by the Income Tax Act. Your residential status will determine whether your global income is taxed in India or only the income earned or received in India.
Yes, DTAA would reduce the overall tax liability because NRIs do not pay taxes on the same income earned in the country of residence and in India. Our team will determine how to apply all these treaties to your advantage.
Although NRIs are allowed to submit their income tax returns in India if their source of income in India exceeds ₹2.5 lakh during any financial year, the said income should be from such sources as property, capital gains, or salary received in India only.
Some of the situations through which NRIs can retrieve their money from India include some reporting to an AD bank account for their account. All FEMA compliances will be done by our team so that everything goes through with no hitch.
"Choosing 'My Startup Solution' for my startup's accounting needs was one of the best decisions I made. The team's dedication to accuracy and their personalized approach to my financial situation set them apart. They go above and beyond to ensure I'm well-informed and compliant, allowing me to focus on my business's growth."
"The team at 'My Startup Solution' has been a true partner in my entrepreneurial journey. Their insightful financial guidance and meticulous attention to detail have helped me navigate complex financial matters seamlessly. With their support, I can confidently steer my startup toward success, knowing that my financial matters are in capable hands."
