NRI Taxation Services

Non-resident Indians (NRIs) often face complexities when it comes to taxation in India. With changing regulations and compliance requirements, it becomes crucial for NRIs to seek consultation from Tax professionals. Balakrishna and Co., Chartered Accountants in Bangalore, specialize in providing comprehensive NRI taxation services, ensuring tax efficiency, compliance, and strategic planning. Here’s an overview of the taxation consultation services that Balakrishna and Co. can provide to NRIs.

1. Understanding NRI Tax Status

Determining one’s residential status is the first step in tax planning. The Income Tax Act, 1961 defines NRI status based on the number of days spent in India in a financial year. Balakrishna and Co. can help assess whether an individual qualifies as an NRI, Resident but Not Ordinarily Resident (RNOR), Deemed Resident or Resident.

For a detailed guide on determining your residential status and its tax implications, refer to Residential Status in India: A Simple & Clear Guide to Determine Your Tax Residency (2025) on our website.

2. Income Tax Filing for NRIs

NRIs are required to file income tax returns in India if their total income exceeds the basic exemption limit. Balakrishna and Co. assist in:

• Filing ITR (Income Tax Return) forms applicable to NRIs.
• Ensuring correct disclosure of income earned in India and abroad.
• Availing deductions and exemptions under various sections.
• Handling income tax scrutiny notices and providing necessary representations.

3. Double Taxation Avoidance Agreement (DTAA) Advisory

NRIs earning income in both India and their country of residence may face double taxation. Balakrishna and Co. provide consultation on:

• Claiming tax relief under DTAA.
• Using Form 10F and TRC (Tax Residency Certificate) to avail of treaty benefits.
• Planning investments to minimize tax outflow.

4. Capital Gains Tax Advisory on Property Transactions

Many NRIs own immovable properties in India. Balakrishna and Co. assist with:

• Tax implications on the sale of property.
• Capital Gains Tax exemptions under Sections 54, 54EC, and 54F.
• Repatriation of sale proceeds under RBI guidelines.
• Obtaining a Lower Tax Deduction Certificate (LTC) for property sales to reduce TDS liability.

5. TDS on NRI Income

Income earned by NRIs from sources such as rent, interest, or capital gains is subject to Tax Deducted at Source (TDS). Balakrishna and Co. provide services such as:

• Lower TDS certificate (Form 13) application.
• Claiming TDS refunds for excess deductions.
• Compliance with Section 195 for remittances abroad.
• Tax (TDS) on interest and rental income earned in India.

6. NRE & NRO Account Taxation and Fund Repatriation

NRIs maintain NRE (Non-Resident External) and NRO (Non-Resident Ordinary) accounts in India. Balakrishna and Co. help with:

• Tax implications of interest earned on NRO accounts.
• Compliance with FEMA (Foreign Exchange Management Act) rules for fund transfers.
• Structuring investments for tax efficiency.
• Assisting with the repatriation of funds from India to the NRI’s country of residence.

7. Investment & Tax Planning for NRIs

NRIs investing in India need to understand tax implications. Balakrishna and Co. assist with:

• Tax-efficient investment in equity, mutual funds, and fixed deposits.
• Planning tax-friendly repatriation of investment returns.
• Structuring investments in accordance with FEMA guidelines.

8. Tax Planning for Returning Indians

Many NRIs eventually return to India and require strategic tax planning. Balakrishna and Co. provide guidance on:

• Transitioning from NRI to Resident status and its tax implications.
• Tax benefits available to Returning NRIs (RNOR status).
• Planning income sources and investments post-return.
• Understanding tax relief on income from foreign retirement accounts under Section 89A. Read more about it in our detailed article: Section 89A Relief on Income from Foreign Retirement Accounts.

9. GST & Business Compliance for NRIs

NRIs operating businesses in India must comply with GST laws and corporate taxation. Balakrishna and Co. provide:

• GST registration and filing assistance.
• Business structuring for optimal tax savings.
• Compliance with company law and RBI regulations.

10. Business Setup Services for NRIs & Business Consulting

Many NRIs look to start businesses in India. Balakrishna and Co. provide:

• Assistance with company incorporation and registration.
• Business transformation and restructuring services.
• Advisory on Entry India strategies for seamless business establishment.
• Financial and operational consulting for businesses.

11. Accounting & Book-keeping Services

Maintaining accurate financial records is crucial for tax compliance. Balakrishna and Co. provide:

• Bookkeeping services for businesses and individuals.
• Payroll management and compliance support.
• Assistance in financial reporting and MIS preparation.

12. PAN Activation for NRIs

Aadhaar-PAN linking is not mandatory for NRIs. However, NRIs must inform the Income Tax Department of their NRI status to ensure their PAN remains operative. Balakrishna and Co. assists with:

• Updating NRI status with the Income Tax Department.
• Ensuring PAN remains valid for financial transactions.
• Avoiding issues related to PAN deactivation or non-compliance

13. Succession Planning & Inheritance Tax Advisory

Estate planning is essential for NRIs to protect and transfer their assets to heirs and beneficiaries efficiently. Balakrishna and Co. provide services such as:

• Legal and tax implications of inheritance.
• Estate planning strategies to ensure seamless wealth transfer.
• Will drafting and succession planning guidance.
• Guidance on inheritance tax implications to optimize tax efficiency.
• Compliance with Indian tax laws on inherited property.

14. Representation in Tax Assessments & Appeals

In case of tax notices or disputes, NRIs require professional representation. Balakrishna and Co. assist with:

• Responding to income tax department queries.
• Representation in assessment proceedings.
• Filing appeals before tax authorities, if needed.

Conclusion

NRI taxation is complex and requires expert guidance to ensure compliance and tax efficiency. Balakrishna and Co., Chartered Accountants & NRI Tax Consultants in Bangalore play a crucial role in helping NRIs navigate tax laws, avoid penalties, and maximize savings. By leveraging professional tax consultation, NRIs can manage their financial affairs in India effectively and seamlessly.

For personalized NRI tax consultation, get in touch with Balakrishna and Co. to ensure compliance with Indian tax regulations while optimizing your tax liability. Our team is well-versed with NRI taxation, TDS and repatriation services. Those who seek any of the above services can write to prakasha@balakrishnaandco.com