NRI SERVICE
The World Bank estimates that in 2022, non-resident Indians’ (NRIs’) remittances to India will total $100 billion.Increased remittances are advantageous because NRI services are growing quickly.
So, let’s first examine what Indian law means by the word “NRI.”
Who is NRI?
According to the Income Tax Act of 1961, an NRI is: – Non-Resident Indians (NRIs) are not specifically defined under income tax, yet it establishes requirements for citizens to be considered residents of India. The number of days a person spends in India throughout the Financial Year (FY), which runs from April to March, determines their residence status.
The Income-tax Act of India categorizes a person’s status into three groups for taxes purposes:
Ordinarily resident and resident (ROR)
R but NOR stands for resident but not normally resident.
Non-resident (NR)
How Can Popli and Associates Assist?
Popli and Associates offers a wide range of services to our NRI clients. We give our NRI clients consulting, execution, and management services while paying close attention to the legal and administrative requirements they must fulfill.
- Additionally, Popli and Associates is skilled in the following NRI services:
- Identifying your Indian residency status
- DTAA interpretation aimed at lowering India’s tax obligation
- addressing matters pertaining to wills, inheritance, etc.
- adherence to the 1961 Income Tax Act, the Wealth Tax Act, etc.
- Permanent Account Number (PAN) application.
- India tax return filing.
- Making appropriate tax-saving investment recommendations.