An Indian abroad is popularly known as Non-Resident Indian (NRI). NRI status is legally defined under the Foreign Exchange Management Act, 1999 and the Income-tax Act, 1961 for applicability of respective laws.
Rajput Jain & Associates offers the quickest and easiest Income Tax Return e-Filing solution for NRIs,Residents with foreign income, Expatriates,Foreign citizensindividuals. To file your ITR using Rajput Jain & Associates, just send the required documents and our expert team of chartered accountants takes care of the rest.
Hassle Free Tax Filing
For NRI & Foreign citizens individuals
Rajput Jain & Associates offers the following Income Tax Return filing packages for NRI & Foreign citizens individuals:
NRI e-File premium
- Who’s it for?
- Services for overseas Indians – NRIs,Residents with foreign income, Expatriates, Foreign citizens, Which is divided in to categories:-
- For employees who went overseas for short-term assignment (for less than 180 days in the financial year), i.e., Residents with foreign income
- For all foreign citizens and overseas Indians not falling in category (a), i.e. Non Resident Indians - NRIs, who have any source of income in India
NRI e-File premium
- What are basic Requirements?
- Apart from the basic details required for preparation of return (viz. name, address, father’s name, PAN, Ward, bank details for refund), other documents required are:-
- Copy of Form 16 for salary income earned in India;
- Details of other income in India;
- Details of tax deducted at source in India (with copies of TDS certificates) other than salary;
- Month-wise details of income outside India with supporting documents;
- Details of tax deducted at source outside India, if any;
- Copy of tax return filed in the foreign country, if any;
- Detail of Living Allowance and Indian salary in foreign currency if the Indian salary was received in foreign currency;
- Whether employed in Indian company and sent abroad for project, and paid by Indian company in foreign;
- Residential status (i.e. No. of days you have stayed in India in the previous years)
NRI e-File premium
- Package offerings
- Self-preparing and e-filing tax returns.Sending reminder notifications via email.
- Depositing signed ITR-V to CPC (if drop-box facility is availed by your employer).
- Return shall be prepared on the basis of information provided by you with No professional advice involved. No phone-based support will be provided.
- Consultation related to tax planning, to the extent possible within the four parameters of law (for current year only), will also be provided.
- Expert Consultation on Tax Liability
- Indians overseas / foreign citizens can receive consultation services to know which part of their income is chargeable to tax in India. The consultation will be provided as per the provisions of the Income Tax Act, 1961 and the relevant Double Taxation Avoidance Agreement (restricted to current year's income only.) (Which will be separately chargeable)?
How does it work?
- While you retain the option to self-prepare your ITR, a ‘real’ tax professional will create your ITR based on the documents provided by you. To opt for this feature, you will have to mail the scanned copies of your documents to Rajput Jain & Associates. The photocopies of these documents can also be submitted at Rajput Jain & Associates helpdesks (Applicable only at select locations).
- On receipt of the document, the assigned tax professional will get the data entry done for creation of the draft ITR. Once the ITR is ready, the tax professional would do a complete review the ITR for you so that you can e-File it without any doubt or hesitation!
- Apart from feeding in the data from your documents, the package also allows you to enter other details like income from any sources, income from house/property, capital gains, deductions, etc. Once you have created your ITR, the system automatically tabulates your tax liability, if any, and allows you to e-File your return through a single click!
Who should not use it?
- Rajput Jain & Associates NRI e-File premium is best suited for NRIs, Residents with foreign income, Expatriates, Foreign citizen’s individuals having only all Salary income, having income from multiple employers, income from House Property and income from other sources (Dividend, Bank Interest etc.), and required tracking of your refunds and tax assessment order.
NRI e-File Premium Packages
Rajput Jain & Associates offers the following three Income Tax Return efiling packages for individuals:
We double check NRI income tax return to make sure it's done right and you get your maximum tax refund
|How Rajput Jain & Associates Process NRI Services Return Filling|
Rajput Jain & Associates has been designed keeping in mind the hassles an individual usually has to go through while filing NRI Services Income Tax Returns every year. At Rajput Jain & Associates we prepare your Income Tax Returns manually as well as through online software, which guarantees us 100% accuracy. To file an ITR through Rajput Jain & Associates, NO accounting knowledge or financial background is required. An individual is only required to provide us his/her personal details and send required information for prepare ITR. The rest is taken care by our team of expert chartered accountants who prepare the Tax Returns and then file it with the Income Tax Department. Once prepared each ITR is verified twice by our most senior chartered accountants to eliminate human errors if any. Finally the tax return is electronically filed with the Income Tax Department and an Acknowledgement is e-mailed back to the user.
Where can we help?
Rajput Jain & Associates has expertise in the following NRI services:
- Determination of your residential status in India.
- Interpretation of DTAA with a view to reduce tax liability in India.
- Handling of issues relating to inheritance, will, etc.
- Compliances with respect to the Income-tax Act, 1961, Wealth-tax Act, etc.
- Application for Permanent Account Number (PAN).
- Filing of India tax return.
- Advising suitable tax saving investments.
What Are You Waiting For?
FREQUENTLY ASKED QUESTIONS (FAQ) ONNRIS TAX RETURN
Person resident outside India means a person who is not resident in India.
A person residing in India for more than one hundred and eighty-two days during the course of the preceding financial year but does not include:-
- Person who has gone out of India or who stays outsideIndia, in either case
- For or on taking up employment outside India, or
- For carrying on outside India a business or vocation outside India, or
- For any other purpose, in such circumstances as would indicate his intention to stay outside India for an uncertain period
A person who has come to or stays in India, in either case, otherwise than
- For or on taking up employment in India, or
- For carrying on in India a business or vocation in India, or
- For any other purpose, in such circumstances as would indicate his intention to stay in India for an uncertain period
Any person or body corporate registered or incorporated in India,
An office, branch or agency in India owned or controlled by a person resident outside India,
An office, branch or agency outside India owned or controlled by a person resident in India;
We prove various NRI service India like NRI financial services, NRI legal services. The term non-resident is negatively defined under section 6 of the Income-tax Act, 1961. An individual who is not a resident under the Income-tax Act is a non-resident. The residential status of an Individual is determined based on the number of days of stay in India. Financial year (FY) is April to March.
For the purposes of levy of tax, the Income-tax Act in India has classified the status of an individual assesses into three viz.
- Resident and ordinarily resident (ROR).
- Resident but not ordinarily resident (R but NOR).
- Non-resident (NR).
The definition is explained in simple terms as under.
- Not applicable to a resident going outside India for employment, a resident who leaves India as a member of crew of an Indian ship, an Indian citizen or person of Indian origin who is abroad and comes to India for a visit i.e. if such a person stays in India for less than 182 days, he would be a non-resident.
- Non-citizens of India should only use this form (i.e. Form 49AA) for submitting application for allotment of PAN. However, a Qualified Foreign Investor (QFI) has to apply for PAN in Form 49AA through a Depository Participant only.
- In the case of a ROR, his global income is taxed in India. Normally a returning Indian would be assessed as RNOR on his return to India.
- In the case of a Non-resident, only the income earned or received in India is taxed in India. Accordingly, income earned outside India by him would not be taxable in India.
PIO means an individual (not being a citizen of Pakistan or Bangladesh or Sir Lanka or Afghanistan or China or Iran or Nepal or Bhutan) who:-
- At any time, held an Indian Passport or
- Who or either of whose father or mother or whose grandfather or grandmother was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955).
India has contracted Double Tax Avoidance Agreements (DTAAs) with various countries. Taxability of Non Resident's Indian income would be decided as per the provisions of these DTAAs. Most of these DTAAs contain provisions for lower rates of tax in case of incomes like dividend, royalties, fees for technical services etc.
An NRI's income taxes in India will depend upon your their residential status for the year.
If your status is 'resident' your global income is taxable in India. If your status is 'NRI' your income which is earned or accrued in India is taxable in India.
Salary received in India or salary for service provided in India, income from a house property situated in India, capital gains on transfer of asset situated in India, income from Fixed Deposits or interest on savings bank account are all examples of income earned or accrued in India.
These incomes are taxable for an NRI. Income which is earned outside India is not taxable in India. Interest earned on a NRE account and FCNR account is tax free. Interest on NRO account is taxable for an NRI.
Here’s how you can check your residential status for a financial year.
You're considered a 'resident' in a financial year if you satisfy one of the conditions below:-
- You are in India for 182 days or more during that financial year
- You are in India for 60 days or more during that financial year AND you are in India for at least 365 days during the 4 years preceding that financial year.
An exception is made for Indian citizens working abroad and members of a crew of an Indian ship or a PIO visiting India, where 60 days is replaced with 182 days.
You are an NRI if you do not meet any of these conditions
Income Tax Return must be filed by an NRI when their total income (before any deductions) is more than Rs 2,50,000 (for AY 2015-16 or FY 2014-15).
Income Tax Return must be compulsorily filed in the following cases:-
- NRI has short term or long term capital gains from any investments or assets (even when gains are less than Rs 2,50,000).
- To get a tax refund.
- To carry forward losses so they can be adjusted later.
A return need not be filed if income from short term or long term capital gains is the only income the NRI has and TDS has been deducted on it.
Deductions under section 80
Some of the deduction under section 80C are available to NRIs – life insurance premium paid in India, ULIPs and ELSS purchased in India. Purchase of NSCs or investments in new PPF accounts are not allowed as deductions under Section 80C for NRIs. Deduction under section 80D for health insurance premium payments for parents are also allowed to be claimed. Here is complete guide to deductions under section 80C.
Deduction from House Property Income for NRIs
NRIs can claim all the deductions available to a Resident from Income from House Property for a house purchased in India. Deduction towards property tax paid and interest on home loan deduction is also allowed. You can read about house property income in detail here.