Tax Planning For Nris

Often NRIs end up paying higher taxes than they need to because of ignorance about the latest Indian tax laws and the special tax advantages available to non-resident Indians.

In this book the renowned tax expert R N Lakhotia highlights the various tax exemptions, tax deductions and rebates for NRIs and describes how informed tax planning can protect the foreign income of NRIs from being taxed in India. The large number of tax planning suggestions and guidelines given in this book will help you make investments in India in such a manner that the income of your spouse, major children, major grand-children, etc. is not added to your income as a non-resident.

Expert guidance includes:

• Who is an NRI, how to become one, and how to enjoy your NRI benefits for many years even after returning permanently to India.
• Tax-exempt items of income and wealth.
• Special tax deductions and rebates available to NRIs.
• How to avoid clubbing of income and wealth.
• How NRIs can tax-proof their capital gains.
• Tax-exempt gifts you can make to friends and relatives in India.
• Procedure for filing and assessment of NRIs tax returns.
• Benefits of banking your money in India.
• Permissible and non-permissible investments for NRIs under FEMA (Foreign Exchange Management Act).

Written in an easy-to-understand style, this book is packed with practical examples and also incorporates the latest provisions of the Indian tax laws.