Author: Daassociates
The power of attorney (POA) is a vital legal instrument for Non-Resident Indians (NRIs) who need a trusted representative to manage their affairs in India. This document allows an appointed agent to act on behalf of the NRI for various tasks, such as managing property, handling financial transactions, or representing the NRI in legal matters. The Power of Attorney for NRIs ensures that NRIs can maintain control over their assets without the need to be physically present, which is particularly beneficial given the time and distance constraints associated with living abroad. What is a Power of Attorney? A power of…
Introduction For Non-Resident Indians (NRIs), managing income tax obligations in India is not only about compliance but also about strategic planning to reduce tax liabilities. NRIs have access to specific deductions and exemptions that can help maximize tax savings. In this blog, we explore various tax-saving strategies for Income Tax for NRIs In India, including leveraging bank accounts, investing in tax-free instruments, and utilizing the Double Taxation Avoidance Agreement (DTAA). Utilizing NRE and NRO Accounts for Tax Savings NRE and NRO accounts offer NRIs opportunities to manage income and minimize taxes. NRE Accounts: The Non-Resident External (NRE) account is specifically…
India has emerged as a lucrative destination for Non-Resident Indians (NRIs) looking to diversify their investments. With a fast-growing economy, favorable government policies, and a wide range of investment opportunities, India is an attractive choice for NRIs wanting to capitalize on its potential. Whether it is in real estate, stocks, mutual funds, or government schemes, NRIs can benefit from NRI Investment in India. This article explores the key investment avenues and considerations for NRIs interested in the Indian market. 1. Real Estate Investment One of the most popular investment options for NRIs is real estate. NRIs are allowed to purchase…
Non-Resident Indians (NRIs) have a unique tax status, with obligations that can be complex and challenging to navigate. Whether it’s income earned in India, capital gains from property sales, or investments in Indian markets, NRIs are required to comply with Indian tax laws while also ensuring they meet their home country’s tax requirements. Given the complexities of cross-border taxation, NRI taxation services provide critical assistance in ensuring compliance, minimizing tax liabilities, and making the process seamless. Understanding NRI Taxation NRIs are individuals who reside outside India for more than 182 days in a financial year but still have financial dealings…