Businesses over the globe are exploring opportunities to extend in diverse geographies as globalization becomes crucial. The possibility to become global leaders is what is forcing more and more companies out of their home countries. We, SAAAR Wealth Advisors is the best International Taxation consultant in India that serves you in every sphere of international taxation.
Serving in multiple jurisdictions also produces opportunities to decrease costs and increase market share worldwide. However, the complex laws, including the taxation laws in different territories, can execute overseas expansion time draining and expensive. Whether you are a domestic Indian company contemplating to expand overseas or a foreign company aspiring to invest in India, you must know the laws and regulations that can influence your business strategies and plans. We, the best tax Consultant in West Delhi, have international alliances and have close ties with our foreign affiliates, who possess the technical expertise to help you in navigating through the complex maze of international tax laws worldwide, making us one of the best international tax consultants in India.
Our Service Offerings
- Transfer Pricing Matters
- Non-resident Indian (NRI) Taxation in India
- DTAA understanding and framework
- Taxation of Expats
- Advice on cross-border transactions
- Advice on prevailing international laws and procedures
- Advice in tax return filings
- Representation before revenue authorities
- Managing international tax litigations
- Advice on various aspects of FEMA
- Foreign Exchange filing and compliances
- Strategise, assess, and evaluate inbound and outbound investments
- Assistance in acquiring relevant regulatory approvals and undertaking compliances
* Withholding tax
Many countries require people paying non-residents to collect the tax due from a non-resident with respect to particular income by withholding such tax from such payments and remitting the tax to the government. Such levies are generally termed withholding taxes. These requirements are induced due to potential difficulties in collecting the tax from non-residents. Withholding taxes are often levied at rates differing from the prevailing Income Tax rates. Further, the withholding rate may vary by type of income or type of recipient. Generally, withholding taxes are charged on the gross amount of income. If the tax withheld from the payment to a person is more than the actual tax payable by such recipient, then the excess tax withheld can be claimed as a refund by filing the Income Tax return.
* Treaties
Many nations have entered into tax treaties, also called Double Tax Avoidance Agreements, with other countries to avoid or mitigate double taxation on an income.
They tend to have “tie-breaker” clauses for resolving conflicts between residency rules and mechanisms for resolving double taxation disputes on the taxability of incomes.
* Transfer pricing
The practice of charging prices for transferring goods or services between related parties is commonly referred to as transfer pricing. Many countries have become sensitive to the potential for shifting profits with transfer pricing and have adopted rules regulating prices or allowance of deductions or inclusion of income for related party transactions.
Arm’s length principle: It is a fundamental concept of most transfer pricing rules that prices levied for a transaction between related enterprises should be those which would be charged for a similar transaction between unrelated parties dealing independently. Different rules prescribe methods for testing whether prices charged for transactions between related parties are at arm’s length price. Examples of such methods include comparable uncontrolled transaction prices, resale prices based on comparable markups, cost plus a markup, and an enterprise profitability method. Such rules generally involve the comparison of related party transactions to similar transactions of unrelated parties.
Saaar Wealth Advisors is a renowned international tax consultant in Delhi providing all possible solutions in the area of international taxation in India with its experienced professionals.So, if you are looking for international taxation consultants, you can reach us at info@saaar.co.in as we are one the best tax consultants in Delhi.
Frequently Asked Questions
- What is Liberalised Remittance Scheme?
According to the Liberalised Remittance Scheme (LRS), all resident individuals, including minors, are permitted to freely remit up to US$ 2,50,000 per financial year for any permissible current or capital account transaction or a combination of both.
- Who is an Authorised Dealer in respect of forex transactions?
An Authorised Dealer is any person specifically authorised by the Reserve Bank of India to deal in foreign exchange or foreign securities and usually includes banks.
- Can a person resident in India hold assets outside India?
A person resident in India can own, hold, transfer or invest in a foreign security, foreign currency or any immovable property located outside India if such security, currency or property was acquired, owned or held by such person when he was a resident outside India or inherited from any person who was a resident outside India.
A resident individual can also acquire property and other assets overseas under Liberalised Remittance Scheme.
- What are the accounts that can be opened in India by an NRI?
An NRI can open the following accounts in India –
* Non-Resident External Account (NRE) Account: It is an Indian rupee-denominated account used to park foreign earnings in India. The deposits in this account are exposed to currency fluctuation.
* Non-Resident Ordinary (NRO) Account: It is also an Indian rupee-denominated account. It is used to manage the income earned in India like dividends, rental income, pension, etc. Tax at 30% (plus applicable surcharge and cess) is deducted at source on interest earned on an NRO account.
* Foreign Currency Non-Residential (FCNR) Account: It is a foreign currency-denominated account and can be opened only in the form of term deposits of 1 to 5 years. Interest income earned on funds in an FCNR account is tax-free in India.
- Can a resident individual remit money as a gift to an NRI who is a close relative of the resident individual?
Yes, a resident individual can make a rupee gift to an NRI who is a close relative of the resident individual. Such amount should be credited to the Non-Resident Ordinary (NRO) A/C of the NRI. However, the gift amount should be within the overall limit of USD 250,000 per financial year as allowed under the LRS for a resident individual. It is the responsibility of the resident donor to make sure that the aggregate amount of all the remittances made by him during a financial year, including the gift amount, does not exceed the limit specified under the Liberalised Remittance Scheme.
