OUR SERVICESNRI Taxation
NRI Taxation refers to the tax laws and regulations that apply to Non-Resident Indians (NRIs). The Indian citizens who reside outside of India for a specific period, usually for employment, business, or other reasons. NRIs are subject to different tax rules compared to resident Indians, especially when it comes to their income earned both within and outside of India. Understanding NRI taxation is crucial to ensure compliance with Indian tax laws and avoid penalties.
What are the Key Aspects of NRI Taxation?
- Capital Gains Tax
- Tax Slabs for NRIs
- Tax on Inherited Assets
- Taxation on Income in India
- Foreign Assets and Bank Accounts
- TDS (Tax Deducted at Source) for NRIs
- Double Taxation Avoidance Agreement (DTAA) etc.
What are the Purposes of NRI Taxation?
- It provides Tax Benefits for NRIs.
- It facilitates Cross-Border Taxation.
- It prevents Tax Evasion and Avoidance.
- It clarifies and defines Tax Responsibilities for NRIs.
- It ensures Fair Taxation Based on Residency Status.
- It ensures Tax Compliance on Income Earned in India.
- It promotes Investment and Economic Growth in India etc.