Overview

Digitization and advanced technologies have paved the way for tax administrators to transform their day-to-day operations to enhance tax administration, counter fraud, and enable taxpayer compliance. Alankit Limited provides advisory and compliance services encompassing the entire gamut of taxation. The team of experienced & skilled professionals ensures the latest tax law practices to reduce your tax liability. NRIs can file their income tax returns getting the desired help from our in-house Chartered Accountants (CAs) and Tax Experts.

Be it an NRI or a Local Resident, any Individual with an Income that exceeds INR 250,000/- during last Financial Year is required to file an Income Tax Return in India.

SPECIALIZED SERVICES ALANKIT PROVIDES TO NRIS IN U.A.E.
15CA / 15CB Certificate

15CB is a CA Certificate for individuals who wish to repatriate money/ funds from their exclusive NRO Account to NRE Account net of Taxes, if any, and also, to repatriate any amount from India to any of the foreign countries. While the 15CA Form is a declaration of the remitter (Client) in question and then, both of these certificates are handed over to the Bank’s RM so as to complete the Funds Transfer.

TDS on Sale of Property

From June 01, 2013, onwards, whenever any buyer purchases an immovable property (for instance, a building or a particular part of a building or any other land except for agricultural land) that costs over INR 50 lakhs, then, he is required to deduct 1% TDS at the time of paying the seller. This has been clearly mentioned in Section 194-IA of the Income Tax Act.

Income Tax Advisory

Income Tax Advisory is a premium service that Alankit provides to NRIs living in Singapore for special transactions like Tax Planning, Returning Indian, Estate Planning, Wills / POA Attestation, etc. We have a team of CAs & Tax Experts who will advise you & make sure the necessary compliance is fulfilled without any hassle.

TRC/ Tax Domicile Certificate
As per the income tax laws in our country, if an individual is residing outside India for over 182 days in a particular financial year, then he/she is labeled as an NRI. In order to prove that an individual is a non-resident in the country, one ought to get a relevant valid Certificate from the country’s tax authorities/ Finance Ministry of the particular country, wherein one has a permanent residence.

As both Singapore and India have now arrived in the Double Taxation Avoidance Agreement (DTAA), in case an individual has their residence Visa in Singapore, then, they are allowed to apply for the Tax Resident Certificate/Tax Domicile Certificate in Singapore.

Our competent team at Alankit helps you to apply for the TRC from the Singapore Tax Authority (Ministry of Finance) at ease.

Why File Return?

NRIs must file their income tax returns when they want:

  • To claim adjustment against past losses
  • To claim tax deductions and tax refunds
  • To avoid any penalty from the income tax department and compliance with tax authorities
  • To avail a loan or opt for a credit card
  • To plan an international trip as it helps in visa processing
Advantages OF FILING ITR
  • Ensuring compliance is taken care off with Income Tax Authorities by filing returns on time thus making oneself Genuine, Responsible, Proud Citizen of India
  • Enhances the chances of getting a Loan, especially Home Loan / Personal Loan
  • Reduces the chances of getting Legal Notices if one is filing Returns every year
  • No need to worry especially when you are NRI returning back to India for good after retirement
Who Is Responsible For Filing Itr?
For the following category of people, it is mandatory to file their returns before the latest stipulated timeline, as defined by the Govt.
  • Individuals having a gross total income more than basic exemption limit in the financial year.
  • All NRIs with the exception of those covered under the section 115AC having taxable income
  • People having suffered any loss from a business or profession or a capital loss from a business or profession or a capital loss
  • Any resident having signing authority in an account which is located outside India
  • Any individuals, HUF, AOP, BOI, having taxable income or with taxable income before making the deduction under the section 10A or 10B or under the chapter VIA when surpassing the limit of exemption
  • Anyone claiming relief under the sections 90 or 90A or deduction under section 91 of IT Act
  • Anyone who does not have taxable income and deposited TDS or any kind of advance tax payment should file their ITR to get a refund.
What Information Needs To Be Provided In The Tax Returns?

General Information

  • PAN Number
  • Passport Number
  • Aadhaar Number, only if Resident
  • E-mail Address & Mobile no.
  • Residential Address in India / Abroad

Income from Other Sources – Interest Income from PF / PPF Savings Account, Interest Income other than securities, Dividend Income from Indian Companies, Gift received, Royalties received, Surrender Amount / Maturity Proceeds received from ULIP, etc.

DETAILS OF PAYMENTS MADE TO BE CLAIMED UNDER SEC 80C/80G/80CCD

To claim a deduction from gross total income, below details must be furnished:

  • Payment of life Insurance Premium, PF, NPS, Housing Loan, etc.
  • Donations as per section 80 G
  • Other relevant deduction under section series 80CCC / 80CCD

Information Required For Applying TRC

For Individuals,

below-mentioned documents are required

For Corporates / Companies,

the below-listed documents are required:

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