Setting Up Business In India
Oldest Indian Tax Advisors for You
Our Team Handles Income Tax, Goods & Services Tax, Corporate Law, RBI & FEMA Matters.
Our Firm Sunil K. Khanna & Co. was founded in 2nd February, 1976 by our founder Late CA. Sunil Kumar Khanna. He founded the firm with a vision to build an institution of learning for the team members associated with the firm and to render a one stop solution to his clients. We are one of the leading Chartered Accountant Firms In India offering services in the field of Income Tax, Goods & Services Tax, Corporate Law, Regulatory Compliance and Audit & Assurance. The firm’s immense experience helps render a wide variety of services to Indian and Multi National companies.
First Consultation Absolutely Free
Q- Are You An NRI & Own a Property in India??
Q- Are You Filling Your Income Tax Return in India??
Q- Are You Claming the Benefits of Double Taxation Avoidance Agreement Between India and your Foreign Country??
Q- Are you Claiming Refund of Withholding Taxes deducted in India??
Q- Are you a Property Owner Planning to Sell your Property in India??
Ans- As per the recent survey conducted by
47% of the Non Resident Indians are not filling their income tax returns
83% Out of them are getting hit by Withholding Taxes and not claiming Refunds
Q- Does Withholding Tax Deduction save you from filing Income Tax Return in India??
Ans – No. Not at all. Non Filing of Income Tax Returns could lead to heavy Penalty and even Prosecution under the Income Tax Act
Q- Who is Liable to File Income Tax Return in India?
Every Individual earning an income in India whether resident or non resident is liable to file his income tax return if his income exceeds the Basic Exemption limit. The non filing of Income Tax return in spite of having taxable income, will make you liable to the penalty and prosecution provisions under the Income-tax Act.
E-filing can be done from any place at any time and it saves time and efforts. It is simple, easy and faster. The e-filed returns are generally processed faster as compared to returns filed manually.
What is Withholding Tax for Non Resident Indians
The Withholding Tax Deduction in India for Non Residents & Foreign Citizens on Interest Income and Dividend income is 30.9%. This means if we earn US$100 as interest in our Bank US$30.90 is being deducted from it at source by the bank. The only way to claim it back would be by filing an Income Tax Return and claiming a refund from income tax department.
The rate of withholding tax on Sale of Property is 23.92% of the Sale Consideration. This means that 23.92% of the Sale Consideration would be deducted at source from the sale consideration and shall be deposited in the allotted PAN Number of the Seller. However, the Capital Gains Tax in India is payable upon the Capital gains allowable after allowing indexation benefit as per the Income Tax Laws prescribed in the Income Tax Act in India.
Many Non Resident Indians consider withholding tax as Taxes Paid on the Sale of Immovable Property and ignore the filling of Income Tax Return at the year end. The process of withholding tax is a safeguard of the Income Tax Department in India so that the department does not lose its taxes from Non Resident Tax Payers. However the Non Resident Indians must file an Income Tax Return to complete the compliance and claim a refund in case an excess tax deduction has been made.
What We Do
We provide free computation of capital gains for Non Residents & Foreign Nationals in India to enable them to work out their tax liability as per Income Tax Laws. We also assist them in clarifying ways to save capital gains tax in India by investment in capital gains bonds, investment in residential property etc.
Tax Exemption for NRI – Lower Rate of TDS
Under the Income Tax Act the government has made a provision to allow lower rate of Tax Deduction at source upon sale of property and other capital gains. In situations where the long term capital gain is not much or there is long term capital loss, the Income Tax Department in India permits a lower rate of TDS on Sale of Assets. We arrange to file such an application on behalf of the Non Resident and Foreign Nationals in India. Our team prepares the application for a lower rate of TDS and files with the jurisdictional officer. We represent before the tax officer and arrange to get the certificate for lower rate of TDS for Non Resident Indian and Foreign National.
To start the procedure we need the following information from your side :-
a) Copy of PAN Cards of the owner of the property
b) Copy of Purchase Deed of the property
c) Copy of Agreement for sale entered with the Buyer
d) Copy of PAN Card of the Buyer
e) ID & Address Proof of the Owner of the Property
f) Proof of Residence in foreign country of the owner of the property
g) Copy of Last Income Tax Return of the Owner of Property
h) 26AS – Statement of TDS Online for last three assessment years
i) Income Tax Portal Login ID & Password of Owner of Property
Once we have all the information we shall prepare the application for lower rate of TDS and as per your jurisdiction arrange to file with the respective officer. After Filling of application we shall follow the same and arrange to get the certificate issued at the earliest.
Turn Around Time
The Turn around time for issuance of certificate is usually 1.5 – 2 Months. We also have an express service which reduces the turnaround time to 1 month.
Our Professional Fee
Our professional Fee for Preparation, Filing & Representation of Application shall be quoted after reviewing the documents which shall be payable 50% in Advance at the time of filing of application and 50% after completion of work.
100% Refund Guarantee
We provide a 100% Fee Refund Guarantee in case during the proceedings you are not satisfied with our services. We take only 48 Hours from your request date to process your complete fee refund.
Our Add On Services
Further for remitting the funds abroad you would require Form 15CA /Form 15CB CA Certificate to be certified and filed by us. We shall assist you in the complete process of meeting out your Tax & RBI compliances in India.
Kindly send us required information to enable us to evaluate the possibility and feasibility of obtaining a certificate of lower rate of TDS for your goods elves. Initially you may send us the relevant figures to enable us to prepare a draft calculation and proceed further. Please note we do not charge any professional fee for preliminary discussion and evaluation of your case. Only after our evaluation we shall be able to quote you the turnaround time and costs involved in obtaining the certificate on your behalf.
Saved By Legitimate Tax Planning For Our Clients
Sometimes you may find yourself in difficult situations and not be able to defuse
the situation without going to court.
Recovered from Tax Authorties as Tax Refunds For Our Clients
Sometimes you may find yourself in difficult situations and not be able
to defuse the situation without going to court.
Get In Touch
I am a NRI and a US Citizen living in Los Angeles USA. Me and My husband had joint bank accounts in India which got dormant due to KYC issues. My husband passed away in 2021. After that Sumeet and his team has helped me in activating the bank accounts, claiming the bank balances from the bank, getting a legal heir certificate from the lawyer, selling off my property in Delhi. He has been prompt in filling of tax returns and specially handling appeals for my Income Tax cases. He assisted us in getting income tax refund from Income Tax Department which was long due and stuck. He and his team is very polite and patient in handling all the matters. I will surely recommend his services to all.
I am an NRI Living in Ireland. I sold my property in India in 2018 under the guidance of CA.Sumeet Khanna. He advised me on reduction of withholding tax rate and arranged to issue a certificate with NIL rate of TDS on Long Term Capital Gains for NRI. He also helped me invest in capital gain exemption bonds to save capital gains tax. Since then its been over 5 years they have been handling my Income Tax compliance. I file my tax returns online thru them every year without visiting India and get my tax refunds on a timely basis. Keep Up the Good Work!!
Sumeet’s accountancy support is first class. He went out of his way to provide excellent support and advice. If you are looking for a trustworthy and reliable accountancy service in Delhi, Sumeet and his team will look after you.