123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Investing---Finance >> View Article

5 Reasons To Hire Professional Investment Consultant For Nris

Profile Picture
By Author: jaydip mehta
Total Articles: 1
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

There are so many reasons to hire a professional consultant in different sectors. Although the main reasons are their Experience derived from hundreds of man years working in the same field and their deep understanding and professional expertise. Like so, Investment in different sectors needs a professional consultant who can guide you through entire process and help you to get optimal benefits. Let us have a look on the benefits which could be provide by an Investment consultant to NRIs in entire process.

The following services by an Investment Consultant can help you to enjoy a hassle free investment experience and guide you to achieve maximum benefits during entire process:

1. Advice on Tax implications both in India and abroad
2. Filing your returns in India
3. Guidance on Double Taxation Avoidance Agreement
4. Advice on Bank Accounts
5. Advice on FEMA

Various areas of concern arise when an NRI decides to return to the country. NRI’s need guidance and planning before returning to the country. S/he must be guided by the Foreign Exchange Management Act and the Income Tax Act. ...
... Listed below are few hiccups that must be addressed before an NRI returns to India:

1) Planning the date of return to enjoy minimum tax liability for that financial year.

2) Possessing and operating NRI bank accounts upon your return and tax implications thereon.

• For NRO account, it must be re-designated to Resident Account
• For NRE account, it must be transferred to RFC account or re-designated to Resident account
• FCNR account, it must be held upto maturity, then converted either to RFC account or to rupee account
• RFC account,It can opened and maintained with authorized dealers on becoming residents. The funds are fully repatriable and denominated in Forex. The funds can be remitted in a foreign country for a genuine purpose by account holder or dependents.

3) Returning NRI’s must inform all companies, banks, funds, etc. about the change in your residential status.

4) Taxability of income in India and abroad

• In the particular year of returning to India, the tax liability would depend on the residential status as per the Income Tax Act, 1961. As per the Indian Tax Laws overseas, the income will be taxed in India if the assesse is an ordinary resident.

• In the 2 successive years, an NRI who has remained out of the country for more than 9 years shall be a RNOR (Resident but Non Ordinary Resident).

5) The application of Double Taxation Avoidance Treaty, if applicable

6) Information/advice on different Tax laws/FEMA, 199 in terms of assets possessed abroad/income within India or abroad and its taxability

• All foreign exchange and assets overseas, such as bank deposits, stocks, securities, loans, properties, bonds, debentures, etc., owned, held, or acquired by an NRI during his stay abroad, will continue to be dealt with in the same manner even after return and permanent settlement in India.

• FEMA Sec. 6(5) authorizes a returning NRI to hold, transfer, own or invest in the Indian currency. He can do so for security or any immovable property existing in India, if the same was/were owned or acquired by the NRI during his residency in the country or inherited from a resident of India.

• The interests paid by scheduled Indian banks to a non-resident or an RNOR, on RFC deposits is tax exempt (Sec. 10(15) (iv) (fa)). However, this exemption continues only until the time the account holder continues to be RNOR.

• NRI’s also enjoy a separate concessional tax regime for certain types of income as delineated in Chapter XIIA (Sec. 115C to 115I). This benefit continues even after an NRI turns into a resident.

More About the Author

12annas.com is a team of investment Consultants help NRIs to invest in Properties, Stocks or Mutual Fund and get maximum benefits on taxations

Total Views: 634Word Count: 596See All articles From Author

Add Comment

Investing / Finance Articles

1. Breadalbane Finance Highlights Key Differences And Opportunities In Asset Finance Across Scotland
Author: Asset Finance

2. Authoritative Tips For Making Smarter Property Investment Decisions
Author: Rick Lopez

3. Why Do Small Businesses In San Francisco Need A Tax Advisor?
Author: GavTax Advisory Services

4. How To Start A Successful Career In Banking After Graduation
Author: sandeep

5. The Crucial Function Of An Investment Advisor For Making A Desired Real Estate Plan!
Author: Rick Lopez

6. Smart Money Moves In 2025: Top Financial Strategies Every Indian Should Follow
Author: Financenu

7. Stock Market Advisory: Choosing The Top Advisory Company In India For Smart Investments
Author: Vinay

8. How A Certificate Course In Retail Can Open Doors To New Job Opportunities
Author: sandeep

9. Top 5 Best Crypto Apps For Ios To Manage Your Crypto With Ease
Author: CryptoReach

10. Best Home Loan In Noida 2025 | Affordable Interest Rates & Easy Emi
Author: dhresh jindal

11. Smarten Power Systems Ipo: Complete Overview, Dates & Gmp Guide
Author: finowings

12. Banking And Finance Training In India: Scope, Opportunities, And Future Trends
Author: sandeep

13. How To Protect Your Crypto Wallet: Essential Tips Beyond Passwords
Author: Eldon Ryder

14. Ipo Grey Market Premium (gmp) Guide | Live & Upcoming Ipo Gmp Trends
Author: finowings

15. Top Benefits Of Enrolling In A Certificate Course In Banking
Author: sandeep

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: