The Indians who live and reside abroad prefer to maintain their physical presence in India. They visit the country and believe that they will not settle here and benefit from the benefits provided by advance tax on capital gains and rental income will not make a lot of sense to them. But if the NRI feels that they are likely to get into some sort of trouble then they may seek the help of NRI tax experts in Pune and would consult with them on various procedures.

  • The onus lies on every person whether they want to be choosing the tax benefits offered by the country or not
  • If the NRIs are not paying advance tax. It is during the time when they are present in India, they need to make sure that they would be checking their income tax returns at the end of every fiscal year. In case of any money that is not paid under the relevant sections, they can be fined or jailed.

NRI residents who visit the country frequently, needs to provide evidence to claim that they were not physically present in India during a given period. If the evidence that is provided is not satisfactory the department is going to levy interest on the unpaid tax that you need to be paying according to Indian laws. Section 15 CA CD advisors in Pune will be able to throw more light on the same. Penalties may be also levied on the NRI’s for unpaid taxes if it is caught by the Income tax department.

NRI tax planning and the process in India

  • An advance tax needs to be paid by the 15th of every quarter, if the sum is not deducted at source. A point to consider is that this provision will not extend to salaried people, who have their pension or salary credited into their bank accounts in India.
  • If you are a NRI citizen make sure that you report the capital gains or rent that you are earning from immovable property. This is to be done if you are filing your income tax returns on time. You may also be required to attach the proof of your advance tax if there is a claim that has been deducted at source by the landlord

The Income tax department of India always maintains a vigilant eye towards NRI investments in India. This is the precise case when NRIs are planning to invest money in India. You should never take this lightly and make sure that you pay advance tax on money earned in India by whatever means.

If you happen to be an NRI citizen who is living outside India, make it a point that you file the returns according to the above said professions. This means that the taxes would not be considered unpaid. It is necessary for you to attach proof of advance income tax return services in perth if you feel that a deduction has already taken place earlier.

By Syed Khubaib Saifi

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