NRI Tax Refund
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Oldest Indian Tax Advisors for You
Since 1976
Our Team Handles Income Tax, Goods & Services Tax, Corporate Law, RBI & FEMA Matters.
Our Firm
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 immense experience of the firm helps in rendering a wide variety of services to Indian and Multi National companies.
First Consultation Absolutely Free
What We Do
Does Withholding Tax Deduction save you from filing Income Tax Return in India?
No. Not at all. Non Filing of Income Tax Return could lead to heavy Penalty and even Prosecution under the Income Tax Act
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.
We help Non Resident Indian Tax Payers in meeting their compliances relating to Income Tax Return, GST Return etc.
Under the Income Tax Act we calculate the Income Tax Liability of the NRI Tax Payer. We arrange to prepare an Income Tax Return on behalf of the Non Resident and Foreign Nationals in India. Our team prepares the Tax Return files online with the CPC. The Income Tax Refund claim is filed and we pursue the same until the money is credited to the bank account of the NRI Tax Payer.
To start the procedure we need the following information from your side :-
- a) Copy of PAN Card of the Tax Payer
- b) Income Tax Portal Login ID & Password
- c) Details of Income Earned during the year
- d) Proof of Residence in foreign country of the owner of the property
- e) Copy of Last Income Tax Return, if any.
- f) Copy of Bank statement of the Tax Payer for the year
Once we have all the information we shall prepare the draft computation. After approval we file your Income Tax Return and thereon pursue the refund claim.
Turn Around Time
The Turn around time for preparation and filling of Income Tax Return is 15 Days subject to timely approvals. We also have an express service which reduces the turnaround time to 3 Days.
After Filing of Income Tax Refund claim the Income Tax Department takes about 3-4 Months to process the refund claim and credits the money to the NRO Bank Account of the NRI Tax Payer.
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 refund claim for your goodselves. 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.
Equity-Linked Savings Scheme (ELSS):
NRIs can also invest in ELSS funds and claim a deduction of up to Rs. 1.5 lakh under Section 80C of the Income Tax Act. However, they need to invest in funds that are compliant with the Foreign Exchange Management Act (FEMA) regulations.
Public Provident Fund (PPF):
NRIs can continue to hold their existing PPF accounts until maturity, but they cannot extend the account further. However, they cannot open a new PPF account once they become NRI.
Fixed Deposit (FD):
NRIs can invest in fixed deposits in Indian banks and claim a deduction of up to Rs. 1.5 lakh under Section 80C of the Income Tax Act.
Unit-Linked Insurance Plans (ULIPs):
NRIs can invest in ULIPs offered by Indian insurance companies and claim a deduction of up to Rs. 1.5 lakh under Section 80C of the Income Tax Act. Under the Insurance Plan Indian Insurance companies now offer a wide variety of guaranteed return plans which offer capital investment guarantee and better returns than the fixed deposits. Moreover upon maturity the proceeds are tax free. It is important to note that the tax-saving benefits available to NRIs may vary based on their residential status and the tax laws applicable in their country of residence. It is recommended that NRIs consult us or their financial advisor before investing in any tax-saving scheme in India.
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.
