For every NRI setting up a business in India, do know for a fact that you are not really required to worry about your taxes. NRIs – though residing out of India- do enjoy the right to set up businesses in the country. Generally, these individuals are not covered by the Income Tax Act of India but once they decide to set up a business here, they are supposed to follow certain rules and regulations imposed by the country. And, here’s where one needs to acquaint himself with Non resident Taxation.
NRI Taxes: Are you confused?
Now, the taxation rules governing Indian companies in India and NRI companies in India may or may not differ. In short, taxation remains an area which continues to confound NRI businesses – so much so, that those mulling commercial ventures in the country back out weighing possible risks. The key is to understand that there is no risk involved-- provided-- you are taking the trouble to reach out to specialists dealing with NRI taxes. Provided you are getting the most reputable lawyers on board, you can be rest assured about the fact that you will duly be prepared for your income tax returns and benefits. Described below are the functions performed by them:
- Assisting you with the tax returns procedure
- Representing you in front of tribunal authorities
- Offering tax assistance services like permanent account number, tax planning and filling of E-income tax among others
What can they do for you?
The very purpose of these lawyers is to help NRI businesses understand their tax obligations as well as the benefits that they have access to. Make sure you are actually taking the trouble to study the background of the tax professionals thoroughly before reaching out to them. Make sure they have handled cases that match your present needs before you’re reaching out to them.