Banking Services:
NRI Bank Account Management:
Account Opening Assistance: Helping NRIs open and manage NRE (Non-Resident External), NRO (Non-Resident Ordinary), and FCNR (Foreign Currency Non-Resident) accounts in Indian banks. Advising on the repatriation of funds from India to the NRI’s country of residence, ensuring compliance with the Reserve Bank of India (RBI) regulations. Assisting NRIs in availing home loans, personal loans, and other financial products in India, including documentation and legal support.
Dispute Resolution with Banks:
Loan Default and Recovery: Representing NRIs in disputes related to loan defaults, wrongful charges, or recovery proceedings initiated by Indian banks. Unauthorized Transactions: Handling cases of fraud, unauthorized transactions, or disputes with banks over account management and fund transfers.
Investment in Indian Financial Products:
Fixed Deposits and Bonds: Advising NRIs on investing in fixed deposits, government bonds, and other financial products in India, including compliance with FEMA (Foreign Exchange Management Act). Mutual Funds and Stock Market: Providing legal guidance on investing in Indian mutual funds and stock markets, including repatriation of investment returns.
Taxation Services:
Income Tax Compliance: Filing Income Tax Returns: Assisting NRIs in filing their income tax returns in India, including reporting global income, deductions, and exemptions applicable to NRIs. Tax Residency Status: Advising on determining tax residency status under Indian tax laws, including the implications of being a Resident, Non-Resident, or Resident but Not Ordinarily Resident (RNOR).
Tax Planning and Advisory:Minimizing Tax Liabilities: Offering strategic advice on minimizing tax liabilities on income earned in India, including rental income, capital gains, and income from investments. Assisting NRIs in understanding and utilizing Double Taxation Avoidance Agreements (DTAA) between India and other countries to avoid being taxed twice on the same income.
Handling Tax Disputes:Representation before Tax Authorities: Representing NRIs in disputes with Indian tax authorities, including assessments, appeals, and litigation before tribunals and courts. Negotiating with tax authorities for waivers on penalties and interest levied on delayed tax payments or non-compliance.
Specialized Services for NRIs:
Estate and Inheritance Taxation: Advising on the taxation of inherited property and assets in India, including compliance with Indian tax laws on gifts and inheritance. Wealth Management: Providing legal advice on wealth management, including investments, repatriation of funds, and succession planning to optimize tax efficiency.
Important Disclaimer:
Your firm provides legal services related to banking and taxation matters for NRIs. However, it does not offer financial investment advice and is not liable for any decisions related to financial investments. Clients are encouraged to consult with certified financial advisors for investment-related guidance.