NRI Tax Consultant in Delhi – TwinDesk Accounting and Legal Advisors LLP
Overview of NRI Taxation
A Non-Resident Indian (NRI) is an Indian citizen who has migrated to a foreign country. In India, tax liability is determined based on residential status and not on the nationality or domicile of the taxpayer.
Due to globalization, an increasing number of people are relocating to different countries across the world. With the consistent growth of the Indian economy over the years, there has also been a steady influx of expatriates into India. To deal efficiently with Indian taxation laws, it is essential to engage a knowledgeable NRI tax consultant in Delhi who can guide you in planning your transactions effectively.
Challenges Faced by NRIs and Expatriates
Some of the typical challenges faced by expatriates include adapting to India’s diverse culture, multiple languages, finding suitable accommodation, and complying with tax and regulatory requirements. TwinDesk Accounting and Legal Advisors LLP is one of the trusted NRI consultants in Delhi, possessing extensive expertise in NRI return filing in India.
Income Tax Deductions Available for NRIs under Section 80C
NRIs can avail tax deductions under Section 80C up to a maximum limit of Rs. 1.5 lakhs, similar to resident taxpayers. Some common investment options eligible for deduction under Section 80C include:
Life Insurance Premium Payment
An NRI can claim a tax deduction for the premium paid on a life insurance policy taken for self, spouse, or children (minor or major), provided the premium does not exceed 10% of the capital sum assured.
Repayment of Principal on Housing Loan
NRIs can claim deductions under Section 80C for the principal portion of instalments paid towards repayment of a housing loan taken for purchasing or constructing a residential property. The interest portion of the instalment is not eligible for deduction under Section 80C.
Children’s Tuition Fee Payment
Tuition fees paid by an NRI to any university, college, school, or educational institution in India for full-time education of children qualify for deduction under Section 80C. This benefit is applicable for a maximum of two children and is not available for payments made to institutions outside India.
Investment in ELSS
NRIs can claim deductions under Section 80C for investments made in Equity Linked Savings Schemes (ELSS) of mutual funds.
Our NRI Tax Consultancy Services
Residential Status and Treaty Advisory
Determination of residential status under domestic tax laws and applicable tax treaties.
Employment and Secondment Tax Advisory
Analysis of secondment agreements in comparison with service agreements.
Income and Capital Gains Tax Advisory
Tax advisory related to salary income and capital gain transactions.
India Tax Return Filing and Double Taxation Relief
Preparation and filing of Indian income tax returns and assistance in eliminating double taxation.
NRI ITR Filing in India
Complete support for accurate and timely NRI income tax return filing in India.
Compliance Advisory for NRIs and Expatriates
Counselling on compliance procedures for NRIs and expatriates on international assignments to India.
Income Tax Scrutiny and Assessments
Assistance in handling income tax scrutiny, assessments, and audits.
Repatriation and FEMA Advisory
Advisory on repatriation of funds from India and issuance of required forms to authorized dealer bankers.
Certification and Investment Advisory
Certification services under FEMA and Income Tax laws, along with investment advisory services in India.
Taxability of ESOP Transactions
Advisory on taxation of Employee Stock Option Plan (ESOP) transactions.
Our Experience and Client Commitment
Our deep knowledge and experience in tax matters, combined with personalized responses, have helped us build long-term relationships with satisfied clients across the globe. Our commitment to excellence ensures prompt and responsive communication with our clients.
How TwinDesk Accounting and Legal Advisors LLP Can Help
Key Areas of Assistance
- Determination of residential status in India
- Interpretation of DTAA to reduce tax liability
- Handling inheritance, legacy, and will-related issues
- Compliance under the Income-tax Act, 1961 and other tax laws
- Application for Permanent Account Number (PAN)
- Filing of Indian income tax returns
- Advisory on tax-saving investments
Contact Us
If you are looking for an NRI tax consultant in Delhi or need assistance with NRI return filing in India, reach out to TwinDesk Accounting and Legal Advisors LLP today to receive expert and reliable tax solutions.