Non-Resident Taxation & FEMA Advisory
Non-resident transactions are governed by the provisions of the Income-tax Act 1961 and the Foreign Exchange Management Act 1999, which together regulate the taxability, reporting and permissibility of cross-border income and transactions. Non-residents are required to evaluate their tax obligations in India in respect of income arising or deemed to arise in India, including income from investments, property, business connections and other specified sources.
In addition to tax compliance, FEMA regulations govern the receipt, holding, utilisation and repatriation of funds and assets in India. Compliance with these regulations is essential to ensure that transactions relating to bank accounts, investments, immovable property and remittances are carried out in accordance with prescribed conditions and regulatory approvals, wherever applicable. Proper understanding of both taxation and FEMA requirements is therefore necessary to avoid non-compliance and ensure smooth conduct of financial transactions involving India.
Areas of Professional Support:
- Assistance in obtaining Permanent Account Number (PAN) for non-residents
- Advisory on taxation of non-residents and filing of income-tax returns
- Assistance in applications for advance rulings on tax matters, where applicable
- Advisory and compliance support under FEMA and RBI regulations
- Issuance of certificates for repatriation of amounts from India
- Assistance in RBI applications relating to acquisition or transfer of immovable property
